Metro Atlanta economic indicators, monthly report, Vol. 5, no. 7 (Sept. 2002)

ATL A N TA

METROPOLITAN
Economic Indicators

A Monthly Report of Atlanta Labor Market and Economic Trends

September 2002

Volume 5, Issue 7

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 7 September 2002

July 2002 Data
Cover art: The Varsity, Atlanta, 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 / September 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 / September 2002

Georgia Department of Labor

Consumer Price Index for the South

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002

Jan
110.2 114.1 118.9 124.6 131.4 134.4 138.4 142.5 146.7 151.1 155.7 157.6 159.9 164.0 169.3 170.6

Feb 78.5 87.8 95.1 98.0 102.4 105.7 108.9 110.7 114.4 119.2 125.4 131.7 134.9 139.1 142.9 147.4 151.5 156.1 157.8 160.0 164.7 170.2 171.0

Mar
111.1 114.8 119.8 126.0 131.9 135.5 139.7 143.6 148.0 152.4 156.5 158.2 160.6 166.4 170.6 172.1

Apr 80.6 89.0 94.7 98.8 103.1 106.4 107.9 111.5 115.4 120.8 126.1 132.1 135.9 140.2 143.8 148.4 153.2 156.7 158.5 161.5 166.6 171.4 173.1

May
111.8 115.6 121.3 126.5 132.5 136.2 140.7 144.3 148.8 153.5 156.6 158.8 161.6 166.6 171.7 173.2

Jun 82.2 90.4 97.0 99.6 103.6 107.1 108.7 112.2 116.1 121.7 127.3 132.8 136.7 140.8 144.7 149.1 154.0 157.0 159.1 161.7 167.4 172.2 173.5

Jul
112.6 116.6 122.0 127.8 133.0 136.8 140.9 145.0 149.2 154.0 157.0 159.3 162.2 167.9 171.6 173.6

Aug 82.7 91.9 97.6 100.2 104.3 107.6 108.7 112.9 117.0 122.1 128.7 133.3 137.0 141.5 145.5 149.7 154.1 157.1 159.5 162.6 168.0 171.5

Sep
113.5 117.7 122.5 129.7 133.8 137.3 141.6 145.8 149.8 154.5 157.5 159.5 163.2 168.5 172.2

Oct 84.2 93.0 98.0 101.2 105.1 108.3 109.4 113.8 118.2 123.0 130.7 134.1 137.8 142.2 145.9 150.5 154.9 157.8 159.8 163.6 168.5 171.7

Nov
114.1 118.3 123.2 130.9 134.4 138.1 142.3 146.0 150.4 155.1 157.8 159.6 163.5 168.6 171.0

Dec 85.8 94.3 97.8 101.3 105.3 108.7 109.7 114.0 118.5 123.4 130.9 134.3 137.9 142.2 146.1 150.3 155.1 157.3 159.6 163.6 168.4 170.3

Rate 12.5 9.9 3.7 3.6 3.9 3.2 0.9 3.9 3.9 4.1 6.1 2.6 2.7 3.1 2.7 2.9 3.2 1.4 1.5 2.5 2.9 1.1

Source: U.S. Bureau of Labor Statistics

The CPI for the South increases 0.1 percent

The Consumer Price Index for All Urban Consumers (CPI-U) for the South increased 0.1 percent in July, not seasonally adjusted, to a level of 173.6 (1982-84=100), as recently reported by the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12month period ending in July, the CPI-U, South increased 1.2 percent.
The 0.1 percent increase in the all items index last month followed an increase of 0.2 percent in June. Over the month, higher costs for housing were partially offset by lower apparel costs. Energy costs increased 0.1 percent. Excluding food and energy, the CPI-U, South was unchanged over the month.
Over the first seven months of 2002, consumer prices in the South

have increased 1.9 percent, the same percentage increase recorded over the first seven months of 2001. In the 12 months since July 2001, the CPI-U, South has increased 1.2 percent. Energy costs have declined 5.8 percent over the past 12 months. Excluding food and energy, the CPI-U, South has risen 1.8 percent since July 2001.
The housing index increased 0.3 percent in July after increasing 0.9 percent in June. Costs for shelter rose 0.3 percent while costs for fuel and utilities rose 0.5 percent in July. Over the past year, housing costs have risen 1.1 percent.
Apparel costs declined 3.5 percent in July, the third consecutive monthly decline for the index and the seventh monthly decline in the past 12 months.
The transportation index rose 0.2

percent in July after dropping 0.5 percent in June. The increase came as the index for new and used vehicles increased 0.2 percent, while the motor fuel index declined 0.4 percent. Since July 2001, costs for new and used vehicles have declined 2.1 percent, while motor fuel costs dropped 2.4 percent. Overall, transportation costs have decreased 0.4 percent since July 2001.
Costs for medical care rose 0.5 percent in July after increasing 0.4 percent in June. The medical care commodities index rose 0.6 percent, while the medical care services index increased 0.5 percent. Over the past year, medical costs in the South have risen 4.3 percent.

Georgia Department of Labor

Metro Atlanta Economic Indicators / September 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 Coincident Economic Indicator advances in July

The Georgia Department of Labor's Index of Leading Economic Indicators (LEI) for the Atlanta metropolitan area decreased 0.7 percent in July, to a level of 159.6 from a revised 160.9 in June, after seasonal adjustment.
The leading indicator turned down in July, sliding 1.1 percent, after posting its largest gain since the start of the year. Declines in commercial and residential construction coupled with reduced total manufacturing hours worked sent the indicator south.
The value of nonresidential construction declined 17.4 percent in July after surging 59.9 percent in June. Residential construction activity slowed during the month, down 0.9 percent in July. The number of residential units authorized slipped from 5,816 in June to 5,763 in July. On the positive side, initial jobless claims declined for the second consecutive month, down 4.3 percent in July, after declining15.2 percent the previous month.

Recent 12 Months

171.3

Leading Coincident

163.8

156.2

148.7

141.1

1987-88 = 100

133.6

A

SON

D

J

F

MAM

J

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 / September 2002

The Index of Coincident Economic Indicators (CEI) increased 0.3 percent in July, to a level of 144.7 from a revised 144.2, after seasonal adjustment.
Increases in retail employment and lower unemployment moved the coincident indicator higher in July. The retail sector sparked a modest increase in July by adding 2,416 retail jobs, up 0.6 percent from the previous month. However, total nonagricultural employment declined 0.3 percent. Unemployment declined to 5.1 percent in the metro area after surging to 5.4 percent in June. The insured unemployment rate declined to 1.85 percent and weekly manufacturing hours worked fell below 40 hours.
The Coincident Economic Indicator increased for the second consecutive month in July. Over the past three quarters the index has improved. The CEI went from falling in the fourth quarter of 2001 to stabilizing during the first two quarters of 2002.
Georgia Department of Labor

Data Summary
July 2002 Data

Metro Atlanta Economic Indicators

Jul 2002

Jun 2002

Jul 2001

Percent Change Jun 2002
to Jul 2002

Percent Change Jul 2001
to Jul 2002

Nonagricultural Employment

2,132,449

Wholesale Employment

158,521

Retail Employment

385,334

Services Employment

679,665

Manufacturing Employment

209,913

Government Employment

271,257

Construction Employment

107,088

Transp. & Pub. Utilities Employment

179,024

Finance, Insurance & Realty Employment

138,766

Business Services Employment

206,781

Health Services Employment

135,523

Social Services Employment

36,217

Manufacturing Workweek

38.1

Manufacturing Earnings

$552.49

Deflated Manufacturing Earnings

$306.77

Initial Unemployment Claims

12,510

Continued Unemployment Claims

172,590

Total Unemployment Rate ( not seasonally adjusted ) 5.1%

Insured Unemployment Rate

1.85%

MARTA Passengers

NA

Cobb County Transit Passengers

178,617

Residential Construction (household units)

5,763

Nonresidential Construction (value)

$292,381,000

Deflated Nonresidential Construction

$162,344

Hotel Occupancy

60.9%

Average Hotel Room Rates

$76.33

Deflated Average Hotel Room Rate

$42.38

Average 30-Year Fixed Mortgage Rate

6.44%

Average 15-Year Fixed Mortgage Rate

5.94%

Average One-Year Adjustable Mortgage Rate

4.05%

Georgia Department of Labor

2,140,818 158,037 382,918 683,179 211,911 273,836 111,814 178,945 140,070 210,759 134,828 35,314 40.6 $593.45 $329.88 13,081 167,583 5.4% 1.93% NA 164,431 5,816
$354,182,000 $196,877 58.2% $77.34 $42.99 6.60% 6.11% 4.29%

2,196,446 170,210 396,967 688,432 210,996 270,500 120,752 192,674 142,551 223,289 130,221 32,622 38.8 $555.90 $313.18 11,834 124,874 3.6% 1.35%
5,481,000 176,523 5,390
$351,753,000 $198,171 61.2% $77.39 $43.60 7.18% 6.73% 5.67%

-0.39 0.31 0.63 -0.51 -0.94 -0.94 -4.23 0.04 -0.93 -1.89 0.51 2.56 -6.22 -6.90 -7.01 -4.37 2.99
NA 8.63 -0.91 -17.45 -17.54 -1.30 -1.41 -

-2.91 -6.87 -2.93 -1.27 -0.51 0.28 -11.32 -7.08 -2.66 -7.39 4.07 11.02 -1.82 -0.61 -2.05 5.71 38.21
NA 1.19 6.92 -16.88 -18.08 -1.36 -2.79 -

Metro Atlanta Economic Indicators / September 2002 5

Nonagricultural Employment

2.24

2000-2001

2001-2002

2.21

2.19

MILLIONS

2.16

2.14

2.11

A

S

O

N

D

J

F

Wholesale Employment

179.7

2000-2001

2001-2002

174.1

THOUSANDS

168.6

163.1

157.6

152.1

A

S

O

N

D

J

F

Retail Employment
410.3 2000-2001

2001-2002

403.6

397.0

THOUSANDS

390.3

383.7

377.0

A

SO ND

J

F

6 Metro Atlanta Economic Indicators / September 2002

M

A

M

J

M

A

M

J

MAMJ

Monthly Data
Seasonally Adjusted

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

2000-2001
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

2001-2002
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 2,140,818 2,132,449

Monthly Data
Seasonally Adjusted
Month 2000-2001

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

171,880 170,937 170,371 169,345 169,761 170,504 169,542 169,720 169,364 168,736 169,520 170,210

2001-2002
167,889 168,089 168,062 167,416 162,368 163,076 160,916 158,105 159,949 159,030 158,037 158,521

Monthly Data
Seasonally Adjusted

Month

2000-2001

2001-2002

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

392,650 392,803 394,699 398,257 398,610 398,320 398,616 400,920 401,984 401,803 401,290 396,967

396,531 395,769 395,528 394,349 395,442 386,814 383,758 385,735 390,801 386,119 382,918 385,334

Georgia Department of Labor

Services Employment
706.0
2000-2001

2001-2002

694.9

683.8

THOUSANDS

672.8

661.7

650.6

A

S

O

N

D

J

Manufacturing Employment

227.4

2000-2001

2001-2002

FMAMJ

Monthly Data
Seasonally Adjusted

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

2000-2001
686,911 688,611 688,958 689,450 690,858 687,922 687,678 688,722 693,171 689,963 688,556 688,432

2001-2002
685,960 681,110 681,820 670,195 663,531 662,269 667,703 672,940 680,212 680,261 683,179 679,665

222.2

217.1

THOUSANDS

211.9

206.8

201.6

A

S

O

N

D

J

Government Employment

284.3

2000-2001

2001-2002

FMAMJ

Monthly Data
Seasonally Adjusted
Month 2000-2001

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

221,181 220,284 219,354 218,679 218,388 215,961 216,332 215,752 213,394 211,695 211,596 210,996

2001-2002
210,224 210,013 210,737 207,678 208,484 212,496 212,370 207,679 210,328 212,331 211,911 209,913

THOUSANDS

278.3

Monthly Data
Seasonally Adjusted

272.4

Month 2000-2001

2001-2002

Aug

264,461

268,116

266.5 260.6

Sep Oct Nov Dec Jan Feb M ar Apr M ay

265,399 266,476 267,915 267,421 270,538 272,243 272,965 272,995 272,817

273,845 274,057 275,806 277,667 276,408 276,737 277,134 276,982 276,579

254.7

Jun

272,967

273,836

Jul

270,500

271,257

A

S

O

N

D

J

F

MAM

J

J

Georgia Department of Labor

Metro Atlanta Economic Indicators / September 2002 7

Construction Employment

129.1

2000-2001

2001-2002

123.7

THOUSANDS

118.3

112.8

107.4

102.0

A

S

O

N

D

J

F

M

A

M

J

Transportation and Public Utilities Employment

203.0

2000-2001

2001-2002

196.3

189.6

THOUSANDS

182.9

176.2

169.5

A

SO

ND

J

F

MAM

J

Finance, Insurance and Realty Employment

145.9

2000-2001

2001-2002

144.1

142.3

THOUSANDS

140.5

138.8

137.0

A

SOND

J

F

MAM

J

8 Metro Atlanta Economic Indicators / September 2002

Monthly Data
Seasonally Adjusted

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

2000-2001
119,908 120,157 119,460 119,207 119,098 119,720 120,093 120,265 122,183 121,631 122,045 120,752

2001-2002
122,476 121,443 123,625 118,467 114,719 114,884 115,255 112,918 113,142 111,847 111,814 107,088

Monthly Data
Seasonally Adjusted

Month 2000-2001

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

191,791 191,839 194,155 195,982 196,488 193,645 192,909 193,073 194,821 194,625 194,442 192,674

2001-2002
193,229 191,284 187,871 183,492 181,429 179,208 177,463 177,345 176,788 178,310 178,945 179,024

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002

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

141,114 140,117 140,662 140,820 141,060 141,392 141,711 142,343 143,418 143,536 143,978 142,551

142,019 141,658 142,105 141,056 140,207 140,850 142,382 142,397 140,331 139,531 140,070 138,766

Georgia Department of Labor

Business Services Employment
252.1

2000-2001

2001-2002

240.0

228.0

THOUSANDS

215.9

203.8

191.8

A

S

O

ND

J

Health Services Employment

139.6

2000-2001

2001-2002

135.8

132.0

THOUSANDS

128.2

124.4

120.6

A

SO

N

D

J

Social Services Employment

37.9

2000-2001

2001-2002

36.2

34.6

THOUSANDS

32.9

31.2

29.6

A

S

O

ND

J

Georgia Department of Labor

F

M

A

M

J

Monthly Data
Seasonally Adjusted

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

2000-2001
236,420 237,307 237,776 236,095 237,132 231,751 229,301 229,264 226,603 225,539 222,177 223,289

2001-2002
222,957 220,140 216,269 204,182 204,204 202,527 204,004 206,958 210,704 211,345 210,759 206,781

F

M

A

M

J

Monthly Data
Seasonally Adjusted
Month 2000-2001

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

125,192 125,420 126,221 126,427 126,414 125,934 126,943 127,363 128,711 129,493 130,653 130,221

2001-2002
129,892 130,478 132,458 131,142 131,098 130,877 133,077 132,974 134,092 133,191 134,828 135,523

Monthly Data
Seasonally Adjusted

Month 2000-2001 2001-2002

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

31,460 31,333 31,405 31,509 31,932 32,180 32,164 32,188 32,128 32,021 31,950 32,622

32,100 32,960 33,386 33,895 33,752 34,620 34,550 34,644 34,711 35,489 35,314 36,217

F

MAM

J

J

Metro Atlanta Economic Indicators / September 2002 9

Manufacturing Workweek

41.7

2000-2001

2001-2002

40.7

39.7

HOURS

38.7

37.8

36.8

A

S

O

N

D

J

F

M

A

M

J

Manufacturing Earnings

$610

2000-2001

2001-2002

$593

$576

DOLLARS

$559

$542

$525

A

SO ND

J

FMAMJ

Deflated Manufacturing Earnings

$345

2000-2001

2001-2002

$334

$322

DOLLARS

$311

$299

$288

A

SOND

J

F

MAM

J

10 Metro Atlanta Economic Indicators / September 2002

Monthly Data
Seasonally Adjusted

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

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

2001-2002
39.6 39.8 38.6 38.9 38.9 38.9 39.3 40.3 39.2 39.1 40.6 38.1

Monthly Data
Seasonally Adjusted

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

2000-2001
$560.32 548.43 569.35 563.98 552.40 550.79 553.01 551.74 541.22 561.95 575.65 555.90

2001-2002
$561.00 569.47 544.90 543.04 559.84 552.14 578.59 580.85 556.57 561.44 593.45 552.49

Monthly Data
Seasonally Adjusted

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

2000-2001
$324.64 315.73 327.21 323.94 317.47 314.56 314.57 313.13 305.95 316.23 323.40 313.18

2001-2002
$316.06 319.39 306.64 306.11 316.83 311.77 325.42 324.86 309.55 312.26 329.88 306.77

Georgia Department of Labor

Initial Unemployment Claims

25.8

2000-2001

2001-2002

THOUSANDS

21.0

16.2

11.5

6.7

1.9

A

S

O

N

D

J

Continued Unemployment Claims

277.0

2000-2001

2001-2002

FMAMJ

Monthly Data
Seasonally Adjusted

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

2000-2001
8,219 7,057 7,534 7,795 8,228 11,539 10,223 10,221 10,910 11,798 10,967 11,834

2001-2002
13,049 12,523 19,180 17,429 13,885 14,616 12,464 13,598 14,740 15,425 13,081 12,510

THOUSANDS

221.6

166.2

110.8

55.4

0.0

A

S

O

N

D

J

Total Unemployment Rate

6.4

2000-2001

2001-2002

FMAMJ

Monthly Data
Seasonally Adjusted

Month

2000-2001

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

59,873 59,470 73,196 59,977 61,431 78,839 80,310 76,932 110,332 104,108 109,620 124,874

2001-2002
123,371 131,061 190,425 164,254 189,033 166,026 181,110 168,001 219,796 177,935 167,583 172,590

5.4

Monthly Data

Not Seasonally Adjusted

PERCENTAGES

Month

4.5 Aug

Sep

Oct

3.6

Nov

Dec

Jan

Feb

2.6

Mar

Apr

May

Jun

1.7

Jul

A

S

O

N

D

J

F

M

A

M

J

J

2000-2001
3.1 % 3.1 3.0 2.6 2.6 2.9 3.1 3.0 2.8 3.0 3.7 3.6

2001-2002
3.6 % 3.8 4.1 4.1 4.2 4.4 4.7 4.7 4.4 4.7 5.4 5.1

Georgia Department of Labor

Metro Atlanta Economic Indicators / September 2002 11

iInsured Unemployment Rate
2.6

2000-2001

2001-2002

2.1

PERCENTAGES

1.6

1.1

0.6

0.0

A

S

O

N

D

J

F

MMARTA Passengers

7.4

2000-2001

2001-2002

6.9

6.4

MILLIONS

5.8

5.3

4.8

A

S

O

N

D

J

F

Cobb Community Transit Passengers

223.9

2000-2001

2001-2002

197.2

170.5

THOUSANDS

143.9

117.2

90.6

A

S

OND

J

F

12 Metro Atlanta Economic Indicators / September 2002

M

A

M

J

Monthly Data
Seasonally Adjusted

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

2000-2001
0.68 % 0.68 0.68 0.69 0.78 0.82 0.88 0.93 1.02 1.13 1.23 1.35

2001-2002
1.44 % 1.68 1.75 2.01 1.99 2.00 2.02 2.06 2.07 2.00 1.93 1.85

Monthly Data
Seasonally Adjusted

Month

2000-2001

Aug

Sep

Oct

Nov

Dec

Jan

Feb

M ar

Apr

current data not available

M ay

Jun

Jul

M

A

M

J

J

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 5,481,000

2001-2002
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 NA

Monthly Data
Seasonally Adjusted

Month

2000-2001 2001-2002

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

136,845 132,248 138,910 137,090 123,707 141,285 130,075 174,076 147,888 168,529 177,233 176,523

189,661 173,058 187,596 193,266 172,187 186,592 170,281 165,386 172,867 168,728 164,431 178,617

M

AM

J

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

Aug

Sep

Oct

4.9

Nov

Dec

Jan

Feb

4.1

M ar

Apr

M ay

Jun

3.2

Jul

A

S

O

N

D

J

F

M

A

M

J

J

Nonresidential Construction

$645

2000-2001

2001-2002

2000-2001
5,211 5,066 4,282 5,083 5,011 5,949 6,144 5,089 5,201 5,799 6,447 5,390

2001-2002
5,358 4,915 4,939 4,686 4,826 5,226 5,070 5,286 5,787 6,360 5,816 5,763

MILLIONS

$518

$391

$264

$137

$10

A

SO

ND

J

F

MA

M

J

Deflated Nonresidential Construction

$360

2000-2001

2001-2002

Monthly Data
Seasonally Adjusted

Month 2000-2001

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

$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

2001-2002
$306,256,000 326,715,000 347,295,000 450,041,000 186,475,000 332,767,000 347,867,000 170,535,000 314,321,000 221,446,000 354,182,000 292,381,000

$289

Monthly Data
Seasonally Adjusted

MILLIONS

$218

Month 2000-2001 2001-2002

Aug

$152,054,000 $172,539,000

Sep

222,919,000

183,239,000

$148

Oct

201,954,000

195,439,000

Nov

151,116,000

253,687,000

Dec

197,141,000

105,532,000

Jan

202,690,000

187,898,000

$77

Feb

184,865,000

195,651,000

M ar

179,051,000

95,378,000

Apr

243,570,000

174,817,000

M ay Jun

176,082,000 168,517,000

123,162,000 196,877,000

$6

Jul

198,171,000

162,344,000

A S OND

J

F MAM

J

J

Georgia Department of Labor

Metro Atlanta Economic Indicators / September 2002 13

Hotel Occupancy
75 2000-2001
69

2001-2002

PERCENTAGES

63

56

50

44

A

S

O

N

D

J

F

Average Hotel Room Rates

$89

2000-2001

2001-2002

$84

$80

DOLLARS

$76

$71

$67

A

SO

ND

J

F

Deflated Average Hotel Room Rates

$51

2000-2001

2001-2002

$49

DOLLARS

$46

$43

$40

$37

A

S

O

N

D

J

F

14 Metro Atlanta Economic Indicators / September 2002

M

A

M

J

MA M J

M

A

M

J

Monthly Data
Seasonally Adjusted

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

2000-2001
66.95 % 67.40 65.82 64.76 60.70 65.05 64.85 66.92 63.47 64.03 65.04 61.16

2001-2002
63.66 % 51.34 58.12 55.98 55.29 59.85 59.54 61.04 61.54 57.71 58.23 60.92

Monthly Data
Seasonally Adjusted

Month

2000-2001

2001-2002

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

$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 76.33

Monthly Data
Seasonally Adjusted

Month

2000-2001 2001-2002

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

$45.43 47.37 45.92 45.51 43.53 47.13 45.89 46.15 44.59 45.82 45.66 43.60

$44.78 40.39 44.18 42.11 41.61 43.93 42.56 45.51 43.96 42.93 42.99 42.38

Georgia Department of Labor

Average 30-Year Fixed Mortgage Rate*
8.92

2000-2001

2001-2002

8.29

PERCENTAGES

7.66

7.03

6.40

5.77

A

S

O

N

D

J

F

Average 15-Year Fixed Mortgage Rate*

8.65

2000-2001

2001-2002

Monthly Data
Not Seasonally Adjusted

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

M

A

M

J

J

* Does not include points

2000-2001
8.04 % 7.95 7.81 7.79 7.45 7.17 7.13 7.02 7.11 7.22 7.22 7.18

2001-2002
7.01 % 6.82 6.62 6.72 7.17 7.03 6.85 7.00 6.96 6.77 6.60 6.44

7.98

PERCENTAGES

7.31

6.64

5.97

5.30

A

S

O

N

D

J

F

M

A

M

J

J

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

8.59

2000-2001

2001-2002

Monthly Data
Not Seasonally Adjusted

Month

2000-2001

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

Jul

6.73

2001-2002
6.53 % 6.35 6.15 6.24 6.65 6.52 6.37 6.55 6.49 6.29 6.11 5.94

7.46

Monthly Data
Not Seasonally Adjusted

PERCENTAGES

6.33 5.20 4.07 2.94

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

A

S

O

N

D

J

F

M

A

M

J

J

* Does not include points

2000-2001
7.35 % 7.34 7.14 7.06 6.92 6.50 6.22 6.00 5.83 5.79 5.71 5.67

2001-2002
5.57 % 5.38 5.05 5.05 5.26 4.99 4.84 4.98 4.92 4.67 4.29 4.05

Georgia Department of Labor

Metro Atlanta Economic Indicators / September 2002 15

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