Metro Atlanta economic indicators, monthly report, Vol. 5, no. 6 (Aug. 2002)

ATL ANTA

METROPOLITAN
Economic

Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

August 2002

Volume 5, Issue 6

Georgia Department of Labor
Michael L. Thurmond Commissioner

Metro Rockdale

P ic k e n s Bartow Cherokee Forsyth

Cobb P a u ld in g

G w innett B arrow

C arroll

D ouglas Fulton D eK alb
Cla yton

W alton Newton

Fa ye tte
Coweta

Henry

S p a ld in g

Atlanta
Economic
Indicators
Monthly Report Volume 5, Issue 6 August 2002

June 2002 Data
Cover art: The Big Chicken, Marietta, Georgia by Huey J. Theus, Mableton, Georgia

Metro Atlanta Economic Indicators is published by Workforce Information and Analysis, a division of the Georgia Department of Labor, 148 Andrew Young International Boulevard, Atlanta, Georgia 303031751. The telephone number is (404) 656-3177.

Georgia Department of Labor
Michael L. Thurmond, Commissioner
An Equal Opportunity Employer/Programs Auxiliary Aids and Services Available Upon Request to Individuals With Disabilities

Georgia Department of Labor

Metro Atlanta Economic Indicators /August 2002

Introduction
Metro Atlanta Economic Indicators, Monthly Report, is designed to provide in a single publication data on
a number of indicators used to measure movement of the Atlanta Metropolitan Statistical Area's economy.
The indicators have been collected and disseminated for many years by private and governmental agencies, but not under a single cover. Contributing agencies include the Georgia Department of Labor, the U.S. Bureau of the Census, the U.S. Bureau of Labor Statistics, F.W. Dodge, McGraw-Hill Information Group, the Metropolitan Atlanta Rapid Transit Authority, Cobb Community Transit System, Smith Travel Research and HSH Associates, Financial Publishers.
All data in this report are seasonally adjusted except Average 30-Year, Average 15-Year Fixed Mortgage Rates, and Average One-Year Adjustable Mortgage Rate on Page 15, and those contained in the Metropolitan Atlanta Consumer Price Index chart on page 3. Data are presented in graphic and tabular form. Each series shows movement over a 24-month period. Where appropriate, companion graphs and tables show data that have been deflated by the U.S. Consumer Price Index or the U.S. Construction Price Index. The purpose is to adjust for inflation and show growth in constant dollars.
The purpose of this publication is to serve the business and professional communities, economic developers, economists, educators and others who have need for information on Atlanta Metropolitan Statistical Area economic trends. Workforce Information and Analysis welcomes comments, suggestions or questions concerning Metro Atlanta Economic Indicators. Please address letters to Bill Webb, Workforce Information and Analysis, Georgia Department of Labor, 148 Andrew Young International Boulevard, Atlanta, Georgia 303031751. The telephone number is (404) 656-3177.

Data Sources
Nonagricultural Employment, Wholesale Employment, Retail Employment, Services Employment, Manufacturing Employment, Government Employment, Construction Employment, Transportation and Public Utilities Employment, Finance, Insurance and Real Estate Employment, Business Services Employment, Health Services Employment, Social Services Employment, Manufacturing Workweek, Manufacturing Earnings, Unemployment Rate, Insured Unemployment Rate, Initial Unemployment Claims and Continued Unemployment Claims -- Georgia Department of Labor
Consumer Price Index -- U.S. Bureau of Labor Statistics, adapted from commentary by Michael Wald
Residential Construction and U.S. Construction Price Index -- U.S. Department of Commerce
Nonresidential Construction -- F.W. Dodge, McGraw-Hill Construction Information Group
MARTA Passengers -- Metropolitan Atlanta Rapid Transit System
Cobb Community Transit Passengers -- Cobb Community Transit System
Hotel Occupancy and Room Rates -- Smith Travel Research, Hendersonville, TN
Average 30-Year and Average 15-Year Fixed Mortgage Rates and Average One-Year Adjustable Mortgage Rate -- HSH Associates, Financial Publishers, Butler, NJ

2 Metro Atlanta Economic Indicators / August 2002

Georgia Department of Labor

Consumer Price Index for Atlanta

1978 1979 1980 1981 1982 1983
1984

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Rate

61.7

62.5

63.6

64.7

65.9

65.9

7.7

66.9

68.5

70.5

71.9

73.2

74

12.3

76.4

78

80.3

81.7

83

85.7

15.8

87.2

88.2

89.3

91.6

93.3

93.6

9.2

92.8

92.9

96.5

98

98.8

98.2

4.9

97.9

98.7

100.2

100.8

100.9

101.9

3.8

102.6

103.2

104.1

104.8

105.4

105.5

3.5

1985

107

107.6

108.8

109.9

110.4

111.2

5.4

1986

111.7

111.1

112.2

112.4

112.7

113.5

2.1

1987

115.5

117.5

3.5

1988

119.1

121.7

3.6

1989

124.9

127.3

4.6

1990

130.8

132.6

4.2

1991

135.5

136.2

2.7

1992

138.6

138.5

1.7

1993

142.2

144.7

4.5

1994

146.7

146.7

1.4

1995

150.3

151.5

3.3

1996

154.7

157.2

3.8

1997

158.3

159.5

1.5

1998

159.5

160.8

162

161.9

162

161.6

1.4

1999

161.9

164

164.8

165.9

166.5

167

3.3

2000

167.4

169.8

170.9

172.1

171.9

171.9

2.9

2001

175.3

176.6

177.8

176.9

176.7

174.8

1.7

2002

176.1

178.6

179.1

Source: U.S. Bureau of Labor Statistics

The CPI for Atlanta increases 0.3 percent

The Consumer Price Index for All Urban Consumers (CPI-U) for Atlanta increased 0.3 percent over the two months ending in June to a level of 179.1 (1982-84=100), not seasonally adjusted, as recently reported by the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12month period ending in June, the CPI-U for Atlanta increased 0.7 percent.
Over the two months, higher costs for housing contributed to the increase in the all items index. Energy costs increased 8.0 percent, as electricity rose over the period. Excluding food and energy, the index dropped 0.4 percent since April.
Over the first six months of 2002, consumer prices in the

Atlanta area have risen 2.5 percent compared to a 3.4 percent increase over the first six months of 2001. In the 12 months ending in June 2002, prices in Atlanta have increased 0.7 percent compared to the 3.8 percent annual increase recorded in June 2001. Higher costs for housing, apparel, and medical care contributed to the June 2002 over-the-year increase in the all items index.
Housing costs rose 1.1 percent over the two months after registering a 1.9 percent increase in the MarchApril pricing period. Costs for shelter declined 0.2 percent while costs for fuel and utilities increased 12.5 percent. For the 12 months ending in June, housing costs increased 0.5 percent.
Apparel costs decreased 3.4 percent after declining 4.2 percent in

the March-April pricing period. The decline reflected seasonal patterns in the index which normally records declines in the summer months. Despite the decrease, apparel costs are 5.2 percent higher than a year ago.
Transportation costs declined 0.4 percent after rising 4.8 percent in the previous pricing period. Motor fuel, which had risen 27.9 percent in the March-April period, declined 2.2 percent in the two months ending in June. Over the past year, transportation costs in the Atlanta area have decreased 1.2 percent, as costs for motor fuel declined 12.9 percent.
The medical care index increased 1.1 percent over the past two months. With the most recent increase, consumers' costs for medical care in the Atlanta area now stand 3.4 percent higher than they were in June 2001.

Georgia Department of Labor

Metro Atlanta Economic Indicators / August 2002 3

Metro Atlanta Index of Economic Indicators
184.9
Leading indicators Coincident indicators
165.6

146.3

127.1

107.8
1987-88 = 100

88.5

95

96

97

98

99

00

01

02

03

Note: All indicators are seasonally adjusted

Atlanta's economic indicators post strong gains in June

The Georgia Department of Labor's Index of Leading Economic Indicators (LEI) for the Atlanta metropolitan area increased 1.9 percent in June, to a level of 160.9 from a revised 157.8 in May, after seasonal adjustment.
Metro Atlanta's leading indicator moved upward in a trend like fashion during the month of June. This marks the third consecutive monthly increase for the indicator. The index's performance in June makes it the largest monthly percentage increase so far this year.
The construction sector lead the way in June with a 59.9 percent surge in the value of commercial construction, reversing May's decrease. Initial jobless claims decelerated 15.2 percent signaling a reduction in layoffs. Continued unemployment claims retracted 5.8 percent, although not included in the leading index. Permits issued for residential construction slipped 8.5 percent, giving way for other sectors to lead the index.

Recent 12 Months

171.3

Leading Coincident

163.8

156.2

148.7

141.1
1987-88 = 100 133.6
J ASOND J FMAM J

The Leading Index reflects activity that will impact the economy for a duration of three to six months into the future. Coincident indicators measure current conditions.

4 Metro Atlanta Economic Indicators / August 2002

The Index of Coincident Economic Indicators (CEI) increased 1.4 percent in June, to a level of 144.3 from a revised 142.2, after seasonal adjustment.
The coincident indicator broke out of it's horizontal slump to higher ground in June. The 1.4 percent jump is the largest increase since January 2002. Nonagricultural employment increased slightly in June, by adding 1,400 jobs. Retail employment decreased 0.7 percent during the month. Average weekly hours worked in the manufacturing sector increased 2.2 percent to 40.0 hours in June. The insured unemployment rate moved downward to 1.93 percent. Unemployment increased to 5.4 percent in the metro area, before seasonal adjustment. Usually the jobless rate increases around this time of year as more graduates enter the workforce. June marks the third time period this year that both ( leading and coincident ) indicators moved into positive territory simultaneously.
Georgia Department of Labor

Data Summary
June 2002 Data

Metro Atlanta Economic Indicators

Jun 2002 May 2002

Jun 2001

Percent Percent Change Change

May 2002 Jun 2001

to

to

Jun 2002 Jun 2002

Nonagricultural Employment

2,145,797

Wholesale Employment

158,137

Retail Employment

383,117

Services Employment

683,975

Manufacturing Employment

213,611

Government Employment

275,335

Construction Employment

113,001

Transp. & Pub. Utilities Employment

178,545

Finance, Insurance & Realty Employment

140,569

Business Services Employment

210,260

Health Services Employment

133,831

Social Services Employment

35,314

Manufacturing Workweek

40.0

Manufacturing Earnings

$589.08

Deflated Manufacturing Earnings

$327.09

Initial Unemployment Claims

13,081

Continued Unemployment Claims

167,583

Total Unemployment Rate (not seasonally adjusted) 5.4%

Insured Unemployment Rate

1.93%

MARTA Passengers

NA

Cobb County Transit Passengers

164,431

Residential Construction (household units)

5,816

Nonresidential Construction (value)

$354,182,000

Deflated Nonresidential Construction

$196,659

Hotel Occupancy

58.2%

Average Hotel Room Rates

$77.34

Deflated Average Hotel Room Rate

$42.94

Average 30-Year Fixed Mortgage Rate

6.60%

Average 15-Year Fixed Mortgage Rate

6.11%

Average One-Year Adjustable Mortgage Rate

4.29%

Georgia Department of Labor

2,144,392 159,030 386,119 680,261 212,331 276,579 111,847 178,310 139,531 211,345 133,191 35,489 39.1 $561.44 $312.26 15,425 177,935 4.7% 2.00%
5,784,000 168,728 6,360
$221,446,000 $123,162 57.7% $77.18 $42.93 6.77% 6.29% 4.67%

2,204,728 169,520 401,290 688,556 211,596 272,967 122,045 194,442 143,978 222,177 130,653 31,950 40.1 $575.65 $323.40 10,967 109,620 3.7% 1.23%
6,512,000 177,233 6,447
$299,961,000 $168,517 65.0% $81.28 $45.66 7.22% 6.77% 5.71%

0.07 -0.56 -0.78 0.55 0.60 -0.45 1.03 0.13 0.74 -0.51 0.48 -0.49 2.27 4.92 4.75 -15.20 -5.82
NA -2.55 -8.55 59.94 59.68 0.20 0.03 -

-2.67 -6.71 -4.53 -0.67 0.95 0.87 -7.41 -8.18 -2.37 -5.36 2.43 10.53 -0.25 2.33 1.14 19.28 52.88
NA -7.22 -9.79 18.08 16.70 -4.85 -5.96 -

Metro Atlanta Economic Indicators / August 2002 5

Nonagricultural Employment

2.24

2000-2001

2001-2002

MILLIONS

2.21

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002 2.19

2.16 2.14 2.11

Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

2,182,146 2,190,815 2,191,073 2,195,286 2,200,703 2,204,842 2,199,393 2,201,436 2,205,457 2,212,235 2,205,265 2,204,728

2,196,446 2,187,626 2,184,321 2,185,609 2,160,248 2,147,497 2,137,649 2,138,795 2,135,751 2,150,376 2,144,392 2,145,797

J

A

S

O

N

D

J

F

M

A

M

J

Wholesale Employment

179.7 174.1

2000-2001

2001-2002

Monthly Data
Seasonally Adjusted

THOUSANDS

Month 2000-2001 2001-2002

168.6 Jul

Aug

Sep

163.1

Oct

Nov

Dec

Jan

157.6

Feb

M ar

Apr

M ay

152.1

Jun

J

A

S

O

N

D

J

F

M

A

M

J

172,513 171,880 170,937 170,371 169,345 169,761 170,504 169,542 169,720 169,364 168,736 169,520

170,210 167,889 168,089 168,062 167,416 162,368 163,076 160,916 158,105 159,949 159,030 158,137

Retail Employment
410.3 2000-2001

2001-2002

403.6

Monthly Data
Seasonally Adjusted

397.0

Month

2000-2001 2001-2002

THOUSANDS

Jul

Aug

Sep

390.3

Oct

Nov

Dec

Jan

383.7

Feb

M ar

Apr M ay

377.0

Jun

J

A S O ND

J

F

MAM

J

391,542 392,650 392,803 394,699 398,257 398,610 398,320 398,616 400,920 401,984 401,803 401,290

396,967 396,531 395,769 395,528 394,349 395,442 386,814 383,758 385,735 390,801 386,119 383,117

6 Metro Atlanta Economic Indicators / August 2002

Georgia Department of Labor

Services Employment
706.0
2000-2001

2001-2002

694.9

Monthly Data
Seasonally Adjusted

THOUSANDS

683.8 672.8 661.7 650.6

Month
Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

2000-2001
682,225 686,911 688,611 688,958 689,450 690,858 687,922 687,678 688,722 693,171 689,963 688,556

2001-2002
688,432 685,960 681,110 681,820 670,195 663,531 662,269 667,703 672,940 680,212 680,261 683,975

J

AS

O

ND

J

F

MAM

J

Manufacturing Employment

227.4

2000-2001

2001-2002

222.2

Monthly Data
Seasonally Adjusted

THOUSANDS

217.1

Month

2000-2001

2001-2002

211.9

Jul

218,876

210,996

Aug

221,181

210,224

Sep

220,284

210,013

Oct

219,354

210,737

Nov

218,679

207,678

206.8

Dec

218,388

208,484

Jan

215,961

212,496

Feb

216,332

212,370

M ar

215,752

207,679

Apr

213,394

210,328

201.6

M ay Jun

211,695 211,596

212,331 213,611

J

AS

O

ND

J

F

MAM

J

Government Employment

284.3

2000-2001

2001-2002

THOUSANDS

278.3

Monthly Data
Seasonally Adjusted

272.4

Month 2000-2001

2001-2002

Jul

261,620

270,500

266.5 260.6

Aug

264,461

268,116

Sep

265,399

273,845

Oct

266,476

274,057

Nov

267,915

275,806

Dec

267,421

277,667

Jan

270,538

276,408

Feb

272,243

276,737

M ar

272,965

277,134

Apr

272,995

276,982

254.7

M ay Jun

272,817 272,967

276,579 275,335

J

A

SO ND

J

F

MA M

J

Georgia Department of Labor

Metro Atlanta Economic Indicators / August 2002 7

Construction Employment

129.1

2000-2001

2001-2002

THOUSANDS

124.7

Monthly Data
Seasonally Adjusted

120.4 116.1 111.8 107.5

Month
Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

2000-2001
119,997 119,908 120,157 119,460 119,207 119,098 119,720 120,093 120,265 122,183 121,631 122,045

2001-2002
120,752 122,476 121,443 123,625 118,467 114,719 114,884 115,255 112,918 113,142 111,847 113,001

J

A

S

O

N

D

J

F

M

A

M

J

Transportation and Public Utilities Employment

201.7

2000-2001

2001-2002

195.3

Monthly Data
Seasonally Adjusted

THOUSANDS

188.8

Month 2000-2001 2001-2002

182.4 175.9 169.5

Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

190,386 191,791 191,839 194,155 195,982 196,488 193,645 192,909 193,073 194,821 194,625 194,442

192,674 193,229 191,284 187,871 183,492 181,429 179,208 177,463 177,345 176,788 178,310 178,545

J

A

S O ND

J

F

MAM

J

Finance, Insurance and Realty Employment

145.6

2000-2001

2001-2002

144.0

Monthly Data
Seasonally Adjusted

THOUSANDS

142.5

Month 2000-2001 2001-2002

141.0 139.5 138.0

Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

140,957 141,114 140,117 140,662 140,820 141,060 141,392 141,711 142,343 143,418 143,536 143,978

142,551 142,019 141,658 142,105 141,056 140,207 140,850 142,382 142,397 140,331 139,531 140,569

J

A

SO

ND

J

F

MA

M

J

8 Metro Atlanta Economic Indicators / August 2002

Georgia Department of Labor

Business Services Employment
252.1

2000-2001

2001-2002

240.0

Monthly Data
Seasonally Adjusted

THOUSANDS

228.0

Month Jul

2000-2001
233,704

2001-2002
223,289

Aug

236,420

222,957

Sep

237,307

220,140

215.9 203.8

Oct

237,776

216,269

Nov

236,095

204,182

Dec

237,132

204,204

Jan

231,751

202,527

Feb

229,301

204,004

M ar

229,264

206,958

Apr

226,603

210,704

191.8

M ay Jun

225,539 222,177

211,345 210,260

J

A

SO

ND

J

F

MA M

J

Health Services Employment

137.6

2000-2001

2001-2002

THOUSANDS

134.2

Monthly Data
Seasonally Adjusted

130.8

Month 2000-2001 2001-2002

Jul

124,415

130,221

Aug

125,192

129,892

127.4

Sep

125,420

130,478

Oct

126,221

132,458

Nov

126,427

131,142

Dec

126,414

131,098

124.0

Jan

125,934

130,877

Feb

126,943

133,077

M ar

127,363

132,974

Apr M ay

128,711 129,493

134,092 133,191

120.6

Jun

130,653

133,831

J

ASO

ND

J

F

MAM

J

Social Services Employment

37.0

2000-2001

2001-2002

35.5

Monthly Data
Seasonally Adjusted

THOUSANDS

34.0 32.5 31.1 29.6

Month
Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

2000-2001
31,063 31,460 31,333 31,405 31,509 31,932 32,180 32,164 32,188 32,128 32,021 31,950

2001-2002
32,622 32,100 32,960 33,386 33,895 33,752 34,620 34,550 34,644 34,711 35,489 35,314

J

A

SOND

J

FMA

M

J

Georgia Department of Labor

Metro Atlanta Economic Indicators / August 2002

9

Manufacturing Workweek

41.7

2000-2001

2001-2002

HOURS

40.7

Monthly Data
Seasonally Adjusted

39.7 38.7 37.8 36.8

Month
Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

J

A

S

O

N

D

J

F

M

A

M

J

Manufacturing Earnings

$604

2000-2001

2001-2002

2000-2001
39.5 39.8 38.8 39.9 39.3 39.0 39.1 38.9 38.9 38.4 39.6 40.1

2001-2002
38.8 39.6 39.8 38.6 38.9 38.9 38.9 39.3 40.3 39.2 39.1 40.0

DOLLARS

$588

Monthly Data
Seasonally Adjusted

$572

Month

2000-2001

2001-2002

$557 $541 $525

Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

$547.47 560.32 548.43 569.35 563.98 552.40 550.79 553.01 551.74 541.22 561.95 575.65

$555.90 561.00 569.47 544.90 543.04 559.84 552.14 578.59 580.85 556.57 561.44 589.08

J

A

SO

ND

J

F

MAM

J

Deflated Manufacturing Earnings

$345

2000-2001

2001-2002

$334

Monthly Data
Seasonally Adjusted

DOLLARS

$322

Month
Jul Aug Sep

2000-2001
$316.82 324.64 315.73

2001-2002
$313.18 316.06 319.39

$311 $299 $288

Oct Nov Dec Jan Feb M ar Apr M ay Jun

327.21 323.94 317.47 314.56 314.57 313.13 305.95 316.23 323.40

306.64 306.11 316.83 311.77 325.42 324.86 309.55 312.26 327.09

J

A

SO

ND

J

F

MA M

J

10 Metro Atlanta Economic Indicators / August 2002

Georgia Department of Labor

Initial Unemployment Claims

25.8

2000-2001

2001-2002

THOUSANDS

21.0

Monthly Data
Seasonally Adjusted

16.2

Month
Jul Aug Sep

2000-2001
6,861 8,219 7,057

2001-2002
11,834 13,049 12,523

11.5

Oct

7,534

19,180

Nov

7,795

17,429

Dec

8,228

13,885

Jan

11,539

14,616

6.7

Feb

10,223

12,464

M ar

10,221

13,598

Apr

10,910

14,740

M ay

11,798

15,425

1.9

Jun

10,967

13,081

J

A

S

O

ND

J

F

M

AM

J

Continued Unemployment Claims

277.0

2000-2001

2001-2002

THOUSANDS

221.6

Monthly Data
Seasonally Adjusted

166.2

Month

2000-2001 2001-2002

Jul

61,750

124,874

Aug

59,873

123,371

110.8 55.4

Sep

59,470

131,061

Oct

73,196

190,425

Nov

59,977

164,254

Dec

61,431

189,033

Jan

78,839

166,026

Feb

80,310

181,110

M ar

76,932

168,001

Apr M ay

110,332 104,108

219,796 177,935

0.0

Jun

109,620

167,583

J

A

SO

ND

J

F

MAM

J

Total Unemployment Rate

6.4

2000-2001

2001-2002

5.4

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

4.5 Jul

Aug

Sep

3.6

Oct

Nov

Dec

Jan

2.6

Feb

Mar

Apr

May

1.7

Jun

J

A

S

O

N

D

J

F

M

A

M

J

2000-2001
3.3 % 3.1 3.1 3.0 2.6 2.6 2.9 3.1 3.0 2.8 3.0 3.7

2001-2002
3.6 % 3.6 3.8 4.1 4.1 4.2 4.4 4.7 4.7 4.4 4.7 5.4

Georgia Department of Labor

Metro Atlanta Economic Indicators / August 2002 11

iInsured Unemployment Rate
2.6

2000-2001

2001-2002

2.1

PERCENTAGES

1.6

1.1

0.6

0.0

J

A

S

O

N

D

J

MMARTA Passengers

7.4

2000-2001

2001-2002

6.9

6.4

MILLIONS

5.8

5.3

4.8

J

A

S

O

N

D

J

Cobb Community Transit Passengers

223.9

2000-2001

2001-2002

197.2

170.5

THOUSANDS

143.9

117.2

90.6

J

A

SO

ND

J

12 Metro Atlanta Economic Indicators / August 2002

Monthly Data
Seasonally Adjusted

Month

Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

F

M

A

M

J

2000-2001
0.66 % 0.68 0.68 0.68 0.69 0.78 0.82 0.88 0.93 1.02 1.13 1.23

2001-2002
1.35 % 1.44 1.68 1.75 2.01 1.99 2.00 2.02 2.06 2.07 2.00 1.93

Monthly Data
Seasonally Adjusted

Month

2000-2001

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

M ar

current data not available

Apr

M ay

Jun

F

M

A

M

J

6,032,000 6,681,000 6,565,000 6,566,000 6,505,000 6,126,000 6,600,000 6,228,000 6,378,000 6,335,000 6,572,000 6,512,000

2001-2002
5,481,000 6,196,000 5,994,000 6,043,000 5,916,000 5,760,000 5,645,000 5,621,000 5,408,000 5,861,000 5,784,000
NA

Monthly Data
Seasonally Adjusted

Month

2000-2001 2001-2002

Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

126,747 136,845 132,248 138,910 137,090 123,707 141,285 130,075 174,076 147,888 168,529 177,233

176,523 189,661 173,058 187,596 193,266 172,187 186,592 170,281 165,386 172,867 168,728 164,431

F

M

A

M

J

Georgia Department of Labor

Residential Construction
7.5 2000-2001

2001-2002

6.6

Monthly Data

Seasonally Adjusted

HOUSEHOLD UNITS ( THOUSANDS )

Month

5.8

Jul

Aug

Sep

4.9

Oct

Nov

Dec

Jan

4.1

Feb

M ar

Apr

M ay

3.2

Jun

J

A

S

O

N

D

J

F

M

A

M

J

Nonresidential Construction

$645

2000-2001

2001-2002

2000-2001
5,312 5,211 5,066 4,282 5,083 5,011 5,949 6,144 5,089 5,201 5,799 6,447

2001-2002
5,390 5,358 4,915 4,939 4,686 4,826 5,226 5,070 5,286 5,787 6,360 5,816

MILLIONS

$518

Monthly Data
Seasonally Adjusted

$391

Month 2000-2001 2001-2002

$264 $137
$10

Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

$254,659,000 262,446,000 387,210,000 351,400,000 263,093,000 343,026,000 354,911,000 324,993,000 315,487,000 430,876,000 312,898,000 299,961,000

$351,753,000 306,256,000 326,715,000 347,295,000 450,041,000 186,475,000 332,767,000 347,867,000 170,535,000 314,321,000 221,446,000 354,182,000

J

A

S

O

ND

J

F

M

AM

J

Deflated Nonresidential Construction

$360

2000-2001

2001-2002

$289

Monthly Data
Seasonally Adjusted

MILLIONS

$218

Month 2000-2001 2001-2002

Jul

$147,372,000 $198,171,000

Aug

152,054,000

172,539,000

$148

Sep

222,919,000

183,239,000

Oct

201,954,000

195,439,000

Nov

151,116,000

253,687,000

Dec

197,141,000

105,532,000

$77

Jan

202,690,000

187,898,000

Feb

184,865,000

195,651,000

M ar

179,051,000

95,378,000

Apr M ay

243,570,000 176,082,000

174,817,000 123,162,000

$6

Jun

168,517,000

196,659,000

J

A

SO

ND

J

F

MA

M

J

Georgia Department of Labor

Metro Atlanta Economic Indicators / August 2002

13

Hotel Occupancy
75
2000-2001

2001-2002

69

Monthly Data

Seasonally Adjusted

PERCENTAGES

Month

2000-2001 2001-2002

63

Jul

68.51 %

61.16 %

Aug

66.95

63.66

Sep

67.40

51.34

56

Oct

65.82

58.12

Nov

64.76

55.98

Dec

60.70

55.29

Jan

65.05

59.85

50

Feb

64.85

59.54

M ar

66.92

61.04

Apr

63.47

61.54

M ay

64.03

57.71

44

Jun

65.04

58.23

J

A

S

O

N

D

J

F

M

A

M

J

Average Hotel Room Rates

$89

2000-2001

2001-2002

DOLLARS

$84

Monthly Data

Seasonally Adjusted

$80

$76

$71

$67

J

A

SOND

J

Deflated Average Hotel Room Rates

$51

2000-2001

2001-2002

FMAM

Month
Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun
J

2000-2001 2001-2002

$80.99 78.41 82.28 79.89 79.24 75.75 82.53 80.68 81.33 78.87 81.42 81.28

$77.39 79.49 72.01 78.51 74.70 73.52 77.81 75.67 81.37 79.05 77.18 77.34

$49

Monthly Data

Seasonally Adjusted

DOLLARS

Month $46

Jul

Aug

Sep

$43

Oct

Nov

Dec

Jan

$40

Feb

M ar

Apr

M ay

$37

Jun

J

A

S

O

N

D

J

F

M

A

M

J

2000-2001
$46.87 45.43 47.37 45.92 45.51 43.53 47.13 45.89 46.15 44.59 45.82 45.66

2001-2002
$43.60 44.78 40.39 44.18 42.11 41.61 43.93 42.56 45.51 43.96 42.93 42.94

14 Metro Atlanta Economic Indicators / August 2002

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
8.90

2000-2001

2001-2002

8.32

PERCENTAGES

7.74

7.16

6.58

6.00

J

A

S

O

N

D

J

Average 15-Year Fixed Mortgage Rate*

8.65

2000-2001

2001-2002

Monthly Data
Not Seasonally Adjusted

Month
Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

F

M

A

M

J

* Does not include points

2000-2001
8.16 % 8.04 7.95 7.81 7.79 7.45 7.17 7.13 7.02 7.11 7.22 7.22

2001-2002
7.18 % 7.01 6.82 6.62 6.72 7.17 7.03 6.85 7.00 6.96 6.77 6.60

7.98

PERCENTAGES

7.31

6.64

5.97

5.30

J

A

S

O

N

D

J

F

M

A

M

J

* Does not include points
Average One-Year Adjustable Mortgage Rate*
8.15

2000-2001

2001-2002

Monthly Data
Not Seasonally Adjusted

Month

2000-2001

Jul

7.87 %

Aug

7.78

Sep

7.63

Oct

7.48

Nov

7.45

Dec

7.09

Jan

6.74

Feb

6.73

M ar

6.59

Apr

6.62

M ay

6.70

Jun

6.77

2001-2002
6.73 % 6.53 6.35 6.15 6.24 6.65 6.52 6.37 6.55 6.49 6.29 6.11

7.22

Monthly Data
Not Seasonally Adjusted

PERCENTAGES

6.29 5.36 4.43 3.50

Month
Jul Aug Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun

J

A

S

O

N

D

J

F

M

A

M

J

* Does not include points

2000-2001
7.26 % 7.35 7.34 7.14 7.06 6.92 6.50 6.22 6.00 5.83 5.79 5.71

2001-2002
5.67 % 5.57 5.38 5.05 5.05 5.26 4.99 4.84 4.98 4.92 4.67 4.29

Georgia Department of Labor

Metro Atlanta Economic Indicators / August 2002 15

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