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 To receive a free subscription to this publication, please complete and mail this form Mail to: If you prefer, you may e-mail your request to bill.webb@dol.state.ga.us Bill Webb Workforce Information and Analysis Georgia Department of Labor 148 Andrew Young International Boulevard, N.E. Atlanta, Georgia 30303-1751 Please add my name to your mailing list for Metro Atlanta Economic Indicators. Name Company / Agency Address City State Zip Code