ATL A N TA METROPOLITAN Economic Indicators A Monthly Report of Atlanta Labor Market and Economic Trends October 2002 Volume 5, Issue 8 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 8 October 2002 August 2002 Data Cover art: The Fox Theater, 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 / October 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 / October 2002 Georgia Department of Labor Consumer Price Index for Atlanta 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 Jan Feb Mar Apr May Jun Jul 61.7 62.5 63.6 66.9 68.5 70.5 76.4 78 80.3 87.2 88.2 89.3 92.8 92.9 96.5 97.9 98.7 100.2 102.6 103.2 104.1 107 107.6 108.8 111.7 111.1 112.2 115.5 119.1 124.9 130.8 135.5 138.6 142.2 146.7 150.3 154.7 158.3 159.5 160.8 162 161.9 164 164.8 167.4 169.8 170.9 175.3 176.6 177.8 176.1 178.6 179.1 Aug Sep Oct Nov Dec Rate 64.7 65.9 65.9 7.7 71.9 73.2 74 12.3 81.7 83 85.7 15.8 91.6 93.3 93.6 9.2 98 98.8 98.2 4.9 100.8 100.9 101.9 3.8 104.8 105.4 105.5 3.5 109.9 110.4 111.2 5.4 112.4 112.7 113.5 2.1 117.5 3.5 121.7 3.6 127.3 4.6 132.6 4.2 136.2 2.7 138.5 1.7 144.7 4.5 146.7 1.4 151.5 3.3 157.2 3.8 159.5 1.5 161.9 162 161.6 1.4 165.9 166.5 167 3.3 172.1 171.9 171.9 2.9 176.9 176.7 174.8 1.7 179.7 Source: U.S. Bureau of Labor Statistics @ www.bls.gov The CPI for Atlanta holds at 0.3 percent The Consumer Price Index for All Urban Consumers (CPI-U) for Atlanta increased 0.3 percent in August, not seasonally adjusted, to a level of 179.7 (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 August, the CPI-U for Atlanta increased 1.6 percent. Over the two months, higher costs for housing contributed to the increase in the all items index. Excluding food and energy, the index has increased 0.3 percent since June. For the 12 months ending in August 2002, prices in Atlanta have increased 1.6 percent compared to the 2.8 percent annual increase recorded in August 2001. Excluding food and energy, the CPI-U for Atlanta has risen 1.8 percent since August 2001. Following is the formula for figuring Consumer Price Index changes from one point in time to another. Index point change CPI Less previous index Equals index point change 112.5 108.5 4.0 Percentage change Index point difference 4.0 Divide by the previous index 108.5 Equals 0.037 Results multiplied by 100 0.037x100 Equals percent change 3.7% Housing costs rose 0.4 percent over the two months after registering a 1.1 percent increase in the May-June pricing period. Costs for shelter increased 0.5 percent while costs for fuels and utilities decreased 0.4 percent. For the 12-months ending in August, housing costs increased 0.9 percent. Apparel costs decreased 3.5 percent after declining 3.4 percent in the MayJune pricing period. Despite the latest decrease, apparel costs are 5.3 percent higher than a year ago. Transportation costs increased 0.6 percent. Motor fuel, which had declined 2.2 percent in the May-June period, increased 2.0 percent in the two months ending in August. Over the past year, transportation costs in the Atlanta area have increased 2.7 percent, as costs for motor fuel rose 2.8 percent. The medical care index increased 0.3 percent over the past two months. With the most recent increase, consumers' costs for medical care in the Atlanta area now stand 4.2 percent higher than they were in August 2001. Georgia Department of Labor Metro Atlanta Economic Indicators / October 2002 3 A v erage wage in m et ro area A cco un t an t s an d audit o rs A ut o m ech an ics Bus driv ers Cash iers Co m p ut er sy st em s an aly st s Co n st ruct io n in sp ect o rs Co rrect io n al o fficers E lect rical en gin eers E lect rician s Jan it o rs an d clean ers L awy er s N ursin g aides P ro duct io n h elp ers Recep t io n ist Regist ered n urses So c ia l wo r k e r s Sup e r v iso r s, p o lic e a n d de t e c t iv e s T each ers, co llege T each ers, ex cep t co llege W ait ers an d wait resses Me tro p o lita n Atla n ta N atio nal C o m p en satio n Su rvey Janu ary 2002 A tlanta, G eo rgia $ 8 .3 5 $ 1 8 .9 6 $ 1 8 .5 0 $ 1 7 .2 0 $ 1 4 .2 2 $ 1 7 .4 5 $ 1 3 .7 1 $ 1 0 .4 5 $ 1 8 .1 0 $ 3 0 .8 3 $ 3 5 .5 0 $ 9 .2 1 $ 1 0 .9 6 $ 1 1 .0 6 $ 4 .8 5 $ 2 2 .0 2 $ 1 8 .7 2 $ 2 4 .1 0 $ 2 8 .9 4 $ 4 2 .9 5 M ean h o u rly earn in gs $ 5 9 .6 9 Note: Data released October 8,2002 by BLS Metro Atlanta's average wage closes in on the $19 mark Workers in the Atlanta metropolitan area averaged $18.96 per hour during January 2002, according to a new survey released by the U.S. Department of Labor's Bureau of Labor Statistics (BLS). White-collar workers averaged $22.91 per hour and accounted for 56 percent of the workers in the area. Blue-collar employees averaged $14.91 per hour and represented 27 percent of the workforce, while the remainder worked in service occupations and earned $11.88 per hour. The National Compensation Survey (NCS) presents straight-time earnings for occupations in establishments employing 50 or more workers in private industry and state and local governments. This covered 335 firms representing 848,100 workers in the Atlanta metropolitan area. Seventy-nine percent of those represented worked in private industry. In the Atlanta metro area, average hourly wages were published for 102 detailed occupations. Among whitecollar workers, computer systems analysts and scientists averaged $30.83 per hour; registered nurses, $22.02 and construction inspectors, $17.45. Bluecollar occupations included automobile mechanics earning $17.20 per hour, bus drivers at $14.22, and production helpers at $10.96. In service occupations, correctional institution officers averaged $13.71 per hour; janitors and cleaners, $10.45; and nursing aides, orderlies and attendants, $9.21. The NCS also provides broad coverage of selected occupational characteristics. For example, full-time employees in the Atlanta area average $19.45 per hour and part-timers earned $10.52. Union workers in blue-collar jobs averaged $17.77 per hour, while their nonunion couterparts made $14.16. Private industry workers at establishments employing 50- 4 Metro Atlanta Economic Indicators / October 2002 99 workers averaged $15.97 per hour, while those in establishments with 500 or more employees earned $21.61. The NCS is part of a statistical program that will eventually integrate three separate surveys of wages and benefits into one comprehensive program increasing the amount of data available. Data provided by the NCS may be used by businesses for establishing pay plans, making decisions concerning plant relocation and collective bargaining negotiations. Indiviuals may use such data to help choose potential careers. For complete copies of this survey please visit http://www.bls.gov/ro4news.htm o n t h e In t e r n e t o r r e q u e s t document 9430 on the Bureau's fax-on-demand service by dialing (404) 331-3403. Georgia Department of Labor Data Summary August 2002 Data Metro Atlanta Economic Indicators Aug 2002 Jul 2002 Aug 2001 Percent Change Jul 2002 to Aug 2002 Percent Change Aug 2001 to Aug 2002 Nonagricultural Employment 2,125,029 Wholesale Employment 158,217 Retail Employment 382,883 Services Employment 680,360 Manufacturing Employment 207,940 Government Employment 271,987 Construction Employment 104,022 Transp. & Pub. Utilities Employment 179,645 Finance, Insurance & Realty Employment 138,637 Business Services Employment 209,569 Health Services Employment 135,690 Social Services Employment 35,977 Manufacturing Workweek 38.3 Manufacturing Earnings $529.16 Deflated Manufacturing Earnings $292.84 Initial Unemployment Claims 12,839 Continued Unemployment Claims 152,519 Total Unemployment Rate ( not seasonally adjusted ) 4.9% Insured Unemployment Rate 1.75% MARTA Passengers NA Cobb County Transit Passengers 185,072 Residential Construction (household units) 4,362 Nonresidential Construction (value) $206,251,000 Deflated Nonresidential Construction $114,140 Hotel Occupancy 60.1% Average Hotel Room Rates $76.25 Deflated Average Hotel Room Rate $42.20 Average 30-Year Fixed Mortgage Rate 6.27% Average 15-Year Fixed Mortgage Rate 5.58% Average One-Year Adjustable Mortgage Rate 3.99% Georgia Department of Labor 2,131,447 158,821 384,831 680,559 207,807 270,847 107,385 179,123 139,164 207,776 135,523 36,012 38.5 $550.87 $305.87 12,510 172,590 5.1% 1.85% NA 178,617 5,763 $292,381,000 $162,344 60.9% $76.33 $42.38 6.44% 5.94% 4.05% 2,187,626 167,889 396,531 685,960 210,224 268,116 122,476 193,229 142,019 222,957 129,892 32,100 39.6 $561.00 $316.06 13,049 123,371 3.6% 1.44% 6,196,000 189,661 5,358 $306,256,000 $172,539 63.7% $79.49 $44.78 7.01% 6.53% 5.57% -0.30 -0.38 -0.51 -0.03 0.06 0.42 -3.13 0.29 -0.38 0.86 0.12 -0.10 -0.40 -3.94 -4.26 2.63 -11.63 NA 3.61 -24.32 -29.46 -29.69 -0.11 -0.44 - -2.86 -5.76 -3.44 -0.82 -1.09 1.44 -15.07 -7.03 -2.38 -6.00 4.46 12.08 -3.27 -5.67 -7.35 -1.61 23.63 NA -2.42 -18.59 -32.65 -33.85 -4.07 -5.77 - Metro Atlanta Economic Indicators / October 2002 5 Nonagricultural Employment 2.24 2000-2001 2001-2002 MILLIONS 2.21 2.18 2.15 2.12 2.09 S O N D J F M A M J Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug J A 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 2,140,818 2,131,447 2,125,029 Wholesale Employment 179.7 174.1 2000-2001 2001-2002 Monthly Data Seasonally Adjusted THOUSANDS Month 2000-2001 2001-2002 168.6 Sep Oct Nov 163.1 Dec Jan Feb M ar 157.6 Apr M ay Jun Jul 152.1 Aug S O N D J F M A M J J A 170,937 170,371 169,345 169,761 170,504 169,542 169,720 169,364 168,736 169,520 170,210 167,889 168,089 168,062 167,416 162,368 163,076 160,916 158,105 159,949 159,030 158,037 158,821 158,217 Retail Employment 410.3 2000-2001 2001-2002 403.4 Monthly Data Seasonally Adjusted 396.5 Month 2000-2001 2001-2002 THOUSANDS Sep Oct Nov 389.5 Dec Jan Feb M ar 382.6 Apr M ay Jun Jul 375.7 Aug S OND J F MA M J J A 392,803 394,699 398,257 398,610 398,320 398,616 400,920 401,984 401,803 401,290 396,967 396,531 395,769 395,528 394,349 395,442 386,814 383,758 385,735 390,801 386,119 382,918 384,831 382,883 6 Metro Atlanta Economic Indicators / October 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 Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug 2000-2001 688,611 688,958 689,450 690,858 687,922 687,678 688,722 693,171 689,963 688,556 688,432 685,960 2001-2002 681,110 681,820 670,195 663,531 662,269 667,703 672,940 680,212 680,261 683,179 680,559 680,360 SOND J F MA M J J A Manufacturing Employment 227.4 2000-2001 2001-2002 222.2 Monthly Data Seasonally Adjusted THOUSANDS 217.1 Month 2000-2001 2001-2002 211.9 Sep 220,284 210,013 Oct 219,354 210,737 Nov 218,679 207,678 Dec 218,388 208,484 Jan 215,961 212,496 206.8 Feb M ar Apr M ay Jun 216,332 215,752 213,394 211,695 211,596 212,370 207,679 210,328 212,331 211,911 201.6 Jul 210,996 207,807 Aug 210,224 207,940 SOND J F MA M J J A Government Employment 284.0 2000-2001 2001-2002 THOUSANDS 279.0 Monthly Data Seasonally Adjusted 274.0 Month 2000-2001 2001-2002 Sep 265,399 273,845 269.0 264.0 Oct Nov Dec Jan Feb M ar Apr M ay Jun 266,476 267,915 267,421 270,538 272,243 272,965 272,995 272,817 272,967 274,057 275,806 277,667 276,408 276,737 277,134 276,982 276,579 273,836 259.0 Jul 270,500 270,847 Aug 268,116 271,987 S O N D J F M A M J J A Georgia Department of Labor Metro Atlanta Economic Indicators / October 2002 7 Construction Employment 129.1 2000-2001 2001-2002 THOUSANDS 122.8 Monthly Data Seasonally Adjusted 116.5 110.2 103.9 97.5 Month Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug 2000-2001 120,157 119,460 119,207 119,098 119,720 120,093 120,265 122,183 121,631 122,045 120,752 122,476 2001-2002 121,443 123,625 118,467 114,719 114,884 115,255 112,918 113,142 111,847 111,814 107,385 104,022 S O N D J F M A M J J A Transportation and Public Utilities Employment 203.0 2000-2001 2001-2002 196.3 Monthly Data Seasonally Adjusted THOUSANDS 189.6 Month 2000-2001 2001-2002 182.9 176.2 169.5 Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug 191,839 194,155 195,982 196,488 193,645 192,909 193,073 194,821 194,625 194,442 192,674 193,229 191,284 187,871 183,492 181,429 179,208 177,463 177,345 176,788 178,310 178,945 179,123 179,645 S O ND J F MAM J J A Finance, Insurance and Realty Employment 145.9 2000-2001 2001-2002 144.1 Monthly Data Seasonally Adjusted THOUSANDS 142.3 Month 2000-2001 2001-2002 140.5 138.8 137.0 Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug 140,117 140,662 140,820 141,060 141,392 141,711 142,343 143,418 143,536 143,978 142,551 142,019 141,658 142,105 141,056 140,207 140,850 142,382 142,397 140,331 139,531 140,070 139,164 138,637 S O ND J F M A M J J A 8 Metro Atlanta Economic Indicators / October 2002 Georgia Department of Labor Business Services Employment 252.1 2000-2001 2001-2002 240.0 Monthly Data Seasonally Adjusted THOUSANDS 228.0 Month Sep 2000-2001 237,307 2001-2002 220,140 Oct 237,776 216,269 Nov 236,095 204,182 215.9 203.8 Dec Jan Feb M ar Apr M ay Jun 237,132 231,751 229,301 229,264 226,603 225,539 222,177 204,204 202,527 204,004 206,958 210,704 211,345 210,759 191.8 Jul 223,289 207,776 Aug 222,957 209,569 SO ND J F M A M J J A Health Services Employment 139.6 2000-2001 2001-2002 THOUSANDS 135.8 Monthly Data Seasonally Adjusted 132.0 Month 2000-2001 2001-2002 Sep 125,420 130,478 Oct 126,221 132,458 128.2 Nov 126,427 131,142 Dec 126,414 131,098 Jan 125,934 130,877 Feb 126,943 133,077 124.4 M ar Apr M ay 127,363 128,711 129,493 132,974 134,092 133,191 Jun 130,653 134,828 Jul 130,221 135,523 120.6 Aug 129,892 135,690 SOND J F MA M J J A Social Services Employment 37.9 2000-2001 2001-2002 36.2 Monthly Data Seasonally Adjusted THOUSANDS 34.6 32.9 31.2 29.6 Month Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug 2000-2001 31,333 31,405 31,509 31,932 32,180 32,164 32,188 32,128 32,021 31,950 32,622 32,100 2001-2002 32,960 33,386 33,895 33,752 34,620 34,550 34,644 34,711 35,489 35,314 36,012 35,977 S O ND J F M AM J J A Georgia Department of Labor Metro Atlanta Economic Indicators / October 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 Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug S O N D J F M A M J J A Manufacturing Earnings $619 2000-2001 2001-2002 2000-2001 38.8 39.9 39.3 39.0 39.1 38.9 38.9 38.4 39.6 40.1 38.8 39.6 2001-2002 39.8 38.6 38.9 38.9 38.9 39.3 40.3 39.2 39.1 40.6 38.5 38.3 DOLLARS $596 Monthly Data Seasonally Adjusted $574 Month 2000-2001 2001-2002 $552 $529 $507 Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug $548.43 569.35 563.98 552.40 550.79 553.01 551.74 541.22 561.95 575.65 555.90 561.00 $569.47 544.90 543.04 559.84 552.14 578.59 580.85 556.57 561.44 593.45 550.87 529.16 SOND J F MA M J J A Deflated Manufacturing Earnings $345 2000-2001 2001-2002 $332 Monthly Data Seasonally Adjusted DOLLARS $319 Month Sep Oct Nov 2000-2001 $315.73 327.21 323.94 2001-2002 $319.39 306.64 306.11 $305 $292 $279 Dec Jan Feb M ar Apr M ay Jun Jul Aug 317.47 314.56 314.57 313.13 305.95 316.23 323.40 313.18 316.06 316.83 311.77 325.42 324.86 309.55 312.26 329.88 305.87 292.84 SO ND J F MAMJ J A 10 Metro Atlanta Economic Indicators / October 2002 Georgia Department of Labor Initial Unemployment Claims 25.8 2000-2001 2001-2002 THOUSANDS 21.0 Monthly Data Seasonally Adjusted 16.2 11.5 6.7 1.9 SO ND J F MA M J Continued Unemployment Claims 277.0 2000-2001 2001-2002 Month Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug J A 2000-2001 7,057 7,534 7,795 8,228 11,539 10,223 10,221 10,910 11,798 10,967 11,834 13,049 2001-2002 12,523 19,180 17,429 13,885 14,616 12,464 13,598 14,740 15,425 13,081 12,510 12,839 THOUSANDS 221.6 Monthly Data Seasonally Adjusted 166.2 Month 2000-2001 2001-2002 Sep 59,470 131,061 Oct 73,196 190,425 110.8 55.4 Nov Dec Jan Feb M ar Apr M ay 59,977 61,431 78,839 80,310 76,932 110,332 104,108 164,254 189,033 166,026 181,110 168,001 219,796 177,935 Jun 109,620 167,583 Jul 124,874 172,590 0.0 Aug 123,371 152,519 S OND J F MA M J J A Total Unemployment Rate 6.4 2000-2001 2001-2002 5.4 Monthly Data Not Seasonally Adjusted PERCENTAGES Month 4.5 Sep Oct Nov 3.6 Dec Jan Feb Mar 2.6 Apr May Jun Jul 1.7 Aug S O N D J F M A M J J A 2000-2001 3.1 % 3.0 2.6 2.6 2.9 3.1 3.0 2.8 3.0 3.7 3.6 3.6 2001-2002 3.8 % 4.1 4.1 4.2 4.4 4.7 4.7 4.4 4.7 5.4 5.1 4.9 Georgia Department of Labor Metro Atlanta Economic Indicators / October 2002 11 iInsured Unemployment Rate 2.6 2000-2001 2001-2002 2.1 PERCENTAGES 1.6 1.1 0.6 0.0 S O N D J F M MMARTA Passengers 7.4 2000-2001 2001-2002 6.9 6.4 MILLIONS 5.8 5.3 4.8 S O N D J F M Cobb Community Transit Passengers 223.9 2000-2001 2001-2002 197.2 170.5 THOUSANDS 143.9 117.2 90.6 SO ND J F M 12 Metro Atlanta Economic Indicators / October 2002 Monthly Data Seasonally Adjusted Month Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug A M J J A 2000-2001 0.68 % 0.68 0.69 0.78 0.82 0.88 0.93 1.02 1.13 1.23 1.35 1.44 2001-2002 1.68 % 1.75 2.01 1.99 2.00 2.02 2.06 2.07 2.00 1.93 1.85 1.75 Monthly Data Seasonally Adjusted Month 2000-2001 Sep Oct Nov Dec Jan Feb M ar Apr M ay current data not available Jun Jul Aug A M J J A 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 6,196,000 2001-2002 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 NA AMJ Monthly Data Seasonally Adjusted Month 2000-2001 2001-2002 Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug 132,248 138,910 137,090 123,707 141,285 130,075 174,076 147,888 168,529 177,233 176,523 189,661 173,058 187,596 193,266 172,187 186,592 170,281 165,386 172,867 168,728 164,431 178,617 185,072 J A Georgia Department of Labor Residential Construction 7.5 2000-2001 2001-2002 6.6 Monthly Data Seasonally Adjusted HOUSEHOLD UNITS ( THOUSANDS ) Month 5.8 Sep Oct Nov 4.9 Dec Jan Feb M ar 4.1 Apr M ay Jun Jul 3.2 Aug S O N D J F M A M J J A Nonresidential Construction $645 2000-2001 2001-2002 2000-2001 5,066 4,282 5,083 5,011 5,949 6,144 5,089 5,201 5,799 6,447 5,390 5,358 2001-2002 4,915 4,939 4,686 4,826 5,226 5,070 5,286 5,787 6,360 5,816 5,763 4,362 MILLIONS $518 Monthly Data Seasonally Adjusted $391 Month 2000-2001 2001-2002 $264 $137 $10 Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug $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 $326,715,000 347,295,000 450,041,000 186,475,000 332,767,000 347,867,000 170,535,000 314,321,000 221,446,000 354,182,000 292,381,000 206,251,000 SOND J F MAM J J A Deflated Nonresidential Construction $360 2000-2001 2001-2002 $289 Monthly Data Seasonally Adjusted MILLIONS $218 Month 2000-2001 2001-2002 Sep $222,919,000 $183,239,000 Oct 201,954,000 195,439,000 $148 Nov 151,116,000 253,687,000 Dec 197,141,000 105,532,000 Jan 202,690,000 187,898,000 Feb 184,865,000 195,651,000 $77 M ar Apr M ay 179,051,000 243,570,000 176,082,000 95,378,000 174,817,000 123,162,000 Jun 168,517,000 196,877,000 Jul 198,171,000 162,344,000 $6 Aug 172,539,000 114,140,000 SO ND J F MAM J J A Georgia Department of Labor Metro Atlanta Economic Indicators / October 2002 13 Hotel Occupancy 75 2000-2001 2001-2002 69 Monthly Data Seasonally Adjusted PERCENTAGES Month 2000-2001 2001-2002 63 Sep 67.40 % 51.34 % Oct 65.82 58.12 Nov 64.76 55.98 56 Dec 60.70 55.29 Jan 65.05 59.85 Feb 64.85 59.54 M ar 66.92 61.04 50 Apr 63.47 61.54 M ay 64.03 57.71 Jun 65.04 58.23 Jul 61.16 60.92 44 Aug 63.66 60.08 S O N D J F M A M J J A Average Hotel Room Rates $89 2000-2001 2001-2002 DOLLARS $84 Monthly Data Seasonally Adjusted Month $80 Sep Oct Nov $76 Dec Jan Feb M ar $71 Apr M ay Jun Jul $67 Aug S OND J FMAM J J A Deflated Average Hotel Room Rates $51 2000-2001 2001-2002 2000-2001 2001-2002 $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 76.25 $49 Monthly Data Seasonally Adjusted DOLLARS Month $46 Sep Oct Nov $43 Dec Jan Feb M ar $40 Apr M ay Jun Jul $37 Aug S O N D J F M A M J J A 2000-2001 $47.37 45.92 45.51 43.53 47.13 45.89 46.15 44.59 45.82 45.66 43.60 44.78 2001-2002 $40.39 44.18 42.11 41.61 43.93 42.56 45.51 43.96 42.93 42.99 42.38 42.20 14 Metro Atlanta Economic Indicators / October 2002 Georgia Department of Labor Average 30-Year Fixed Mortgage Rate* 8.92 2000-2001 2001-2002 8.24 PERCENTAGES 7.56 6.88 6.20 5.52 S O N D J F M Average 15-Year Fixed Mortgage Rate* 8.65 2000-2001 2001-2002 Monthly Data Not Seasonally Adjusted Month Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug A M J J A * Does not include points 2000-2001 7.95 % 7.81 7.79 7.45 7.17 7.13 7.02 7.11 7.22 7.22 7.18 7.01 2001-2002 6.82 % 6.62 6.72 7.17 7.03 6.85 7.00 6.96 6.77 6.60 6.44 6.27 7.84 PERCENTAGES 7.03 6.22 5.41 4.60 S O N D J F M A M J J A * Does not include points Average One-Year Adjustable Mortgage Rate* 8.61 2000-2001 2001-2002 Monthly Data Not Seasonally Adjusted Month 2000-2001 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 Aug 6.53 2001-2002 6.35 % 6.15 6.24 6.65 6.52 6.37 6.55 6.49 6.29 6.11 5.94 5.58 7.43 Monthly Data Not Seasonally Adjusted PERCENTAGES 6.25 5.07 3.89 2.71 Month Sep Oct Nov Dec Jan Feb M ar Apr M ay Jun Jul Aug S O N D J F M A M J J A * Does not include points 2000-2001 7.34 % 7.14 7.06 6.92 6.50 6.22 6.00 5.83 5.79 5.71 5.67 5.57 2001-2002 5.38 % 5.05 5.05 5.26 4.99 4.84 4.98 4.92 4.67 4.29 4.05 3.99 Georgia Department of Labor Metro Atlanta Economic Indicators / October 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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