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 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. 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