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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