Georgia economic indicators, monthly report [Vol. 6, no. 7 (Sept. 2000)]

GEORGIA

Economic

Indicators

A Monthly Report of Georgia State Labor Market and Economic Trends

September 2000

Volume 6, Issue 7

Georgia Department of Labor
Michael L. Thurmond Commissioner

Georgia Economic Indicators
Monthly Report July 2000 Data
Volume 6, Issue 7 September 2000

Cover art: Windsor Hotel, Americus - Huey J. Theus, Mableton, Georgia
Georgia Economic Indicators, Monthly Report, is published by Workforce Information and Analysis, a division of the Georgia Department of Labor, 148 International Boulevard, Atlanta, Georgia 303031751. The telephone number is (404) 656-3177.
Visit the Georgia Department of Labor web site at www.dol.state.ga.us

Georgia Department of Labor

Georgia Department of Labor
Michael L. Thurmond, Commissioner Georgia Economic Indicators / September 2000 1

Introduction

G eorgia Economic Indicators, Monthly Report, is designed to provide in a single publication data on a
number of indicators used to measure movement of the state's economy.
The indicators have been collected and disseminated for many years by state and federal governments and private agencies, but not under a single cover. Contributing agencies include Georgia's Department of Labor, Department of Revenue and Office of Secretary of State, the U.S. Bureau of the Census, U.S. Bureau of Labor Statistics and the F.W. Dodge Company.
All data except those contained in the U.S. Consumer Price Index chart on Page 3 are seasonally adjusted using the X11 ARIMA method. They are presented in graphic and tabular form along with an analysis. Each series shows movement over a 24-month period. Where appropriate, companion graphs and tables show data which 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.
Historical tables and graphs are included in a supplementary Georgia Economic Indicators, Historical Series, published annually in February.
The purpose of the publications is to serve the business and professional communities, economic developers, economists, educators and others who have need for information on state economic trends.
Workforce Information and Analysis welcomes comments, suggestions or questions concerning Georgia Economic Indicators, Monthly Report and Georgia Economic Indicators, Historical Series. Please address correspondence to Stephen Matta, Workforce Information and Analysis, Georgia Department of Labor, 148 International Boulevard, Atlanta, Georgia 30303-1751. The telephone number is (404) 656-3177.

Data Sources

Georgia Indexes of Leading and Coincident Economic Indicators*, Initial Unemployment Claims, Continuing Unemployment Claims, Insured Unemployment Rate, Nonagricultural Employment, Nonagricultural Job Openings Unfilled, Weekly Manufacturing Earnings, Retail Employment, Manufacturing Employment and Manufacturing Workweek -- Georgia Department of Labor
Seasonally Adjusted Unemployment Rate and United States Labor Force Estimates -- U.S. Bureau of Labor Statistics
New Motor Vehicles, State Sales and Use Tax Collections and Total Revenue Collections -- Georgia Department of Revenue
New Business Corporations -- Georgia Secretary of State
Residential Construction and Construction Price Index -- U.S. Department of Commerce
Nonresidential Construction -- F.W. Dodge, McGraw-Hill Construction Information Group
* Model for Georgia Indexes of Leading and Coincident Economic Indicators developed by Georgia State University's Economic Forecasting Center

2 Georgia Economic Indicators / September 2000

Georgia Department of Labor

Consumer Price Index

YEAR 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

JAN
58.5 62.5 68.3 77.8 87.0 94.3 97.8 101.9 105.5 109.6 111.2 115.7 121.1 127.4 134.6 138.1 142.6 146.2 150.3 154.4 159.1 161.6 164.3 168.7

FEB
59.1 62.9 69.1 78.9 87.9 94.6 97.9 102.4 106.0 109.3 111.6 116.0 121.6 128.0 134.8 138.6 143.1 146.7 150.9 154.9 159.6 161.9 164.5 169.7

MAR
59.5 63.4 69.8 80.1 88.5 94.5 97.9 102.6 106.4 108.8 112.1 116.5 122.3 128.7 135.0 139.3 143.6 147.2 151.4 155.7 160.0 162.2 165.0 171.1

APR
60.0 63.9 70.6 81.0 89.1 94.9 98.6 103.1 106.9 108.6 112.7 117.1 123.1 128.9 135.2 139.5 144.0 147.4 151.9 156.3 160.2 162.5 166.2 171.2

MAY
60.3 64.5 71.5 81.8 89.8 95.8 99.2 103.4 107.3 108.9 113.1 117.5 123.8 129.2 135.6 139.7 144.2 147.5 152.2 156.6 160.1 162.8 166.2 171.3

JUN
60.7 65.2 72.3 82.7 90.6 97.0 99.5 103.7 107.6 109.5 113.5 118.0 124.1 129.9 136.0 140.2 144.4 148.0 152.5 156.7 160.3 163.0 166.2 172.3

JUL
61.0 65.7 73.1 82.7 91.6 97.5 99.9 104.1 107.0 109.5 113.8 118.5 124.4 130.4 136.2 140.5 144.4 148.4 152.5 157.0 160.5 163.2 166.7 172.6

AUG
61.2 66.0 73.8 88.3 92.3 97.7 100.2 104.5 108.0 109.7 114.4 119.0 124.6 131.6 136.6 140.9 144.8 149.0 152.9 157.3 160.8 163.4 167.1

SEP
61.4 66.5 74.6 84.0 93.2 97.9 100.7 105.0 108.3 110.2 115.0 119.8 125.0 132.7 137.2 141.3 145.1 149.4 153.2 157.8 161.2 163.6 167.9

OCT
61.6 67.1 75.2 84.8 93.4 98.2 101.0 105.3 108.7 110.3 115.3 120.2 125.0 133.5 137.4 141.9 145.7 149.5 153.7 158.3 161.6 164.0 168.2

Chart is not seasonally adjusted

NOV
61.9

DEC
62.1

AVG
60.6

CPI RATE
6.7%

67.4 67.7

65.2

9.0%

75.9 76.7

72.6

13.3%

85.5 86.3

82.4

12.5%

93.7 94.0

90.9

8.9%

98.0 97.6

96.5

3.8%

101.2 101.3

99.6

3.8%

105.3 105.3 103.9

3.9%

109.0 109.3 107.6

3.8%

110.4 110.5 109.6

1.1%

115.4 115.4 113.6

4.4%

120.3 120.5 118.3

4.4%

125.9 126.1 124.0

4.6%

133.8 133.8 130.7

6.1%

137.8 137.9 136.2

3.1%

142.0 141.9 140.3

2.9%

145.8 145.8 144.5

2.7%

149.7 149.7 148.2

2.7%

153.6 153.5 152.4

2.5%

158.6 158.6 156.9

3.3%

161.5 161.3 160.5

1.7%

164.0 163.9 163.0

1.6%

168.3 168.3 166.6

2.7%

U.S. BUREAU OF LABOR STATISTICS

Inflation increased a modest 0.2 percent in July CPI

The U.S. Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent from June to July, reaching an unadjusted level of 172.6. The seasonally adjusted index was also up 0.2 percent for the month.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 0.1 percent during July, before seasonal adjustment.
The core inflation rate, as measured by the index of all items less food and energy, increased 0.2 percent, seasonally adjusted, for the fourth month in a row. The compound annual rate of increase for the core index is presently at 2.2 percent.
Among the biggest non-energy increases in the July CPI were education and communications. Telephone services increased 0.8 percent for the month, while education costs increased 0.5 percent. In part, some of this increase can be attributed to higher tuition costs, raised at the beginning of the fiscal year.
The food and beverage index also increased significantly in July, jumping

The Formula
Following is the formula for figuring Consumer Price Index percentage 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

Percent change

Index point difference Divided by the previous index Equals Results multiplied by 100 Equals percent change

4.0 108.5 0.037 0.037 x 100 3.7%

0.5 percent for the month. Bakery products were up 1.0 percent, erasing the 0.7 percent decline in the previous report. Fruit and vegetable prices were also up 1.0 percent and meats increased 0.5 percent.
As might be expected, energy prices continued to climb during July, with natural gas and electrical utilities up 2.0

percent. Fuel oils increased 1.6 percent during the month. Prices at the gas pump dropped in July, with gasoline showing declines of 2.0 percent and motor fuels overall declining 1.9 percent.
Housing costs grew an additional 0.4 percent for July, largely driven by the cost of utilities. Hotel guests paid 0.5 percent less for their accommodations during the month, while residential rent increased 0.4 percent.
Apparel prices continued the downward trend, falling 1.0 percent in July, after a 0.6 percent decline in June. The largest contributions to the decline were footwear which dropped 2.3 percent, and infants' and toddlers' apparel which fell 1.8 percent. Apparel prices have declined since April.
Medical care costs increased 0.3 percent in July. The cost for professional services increased a modest 0.2 percent, while hospital services cost 0.6 percent more than in June. Since July of 1999, the cost of hospital services has increased 6.3 percent.

Georgia Department of Labor

Georgia Economic Indicators / September 2000 3

Georgia Index of Economic Indicators

175.0

Leading indicators

164.8

Coincident indicators

154.6

144.4

134.2

124.0

113.8

103.6

93.4
1987-88 = 100
83.2

73.0 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01

Leading Index continues growth of 0.3 percent in July

Editor's Note: All indicators have been seasonally adjusted.
***
The Georgia Department of Labor's Index of Leading Economic Indicators increased 0.3 percent in July to 163.06 from a revised 162.53. The July index growth is good news, suggesting that the State's economy will continue to be stable and possibly see modest strengthening during the third quarter. The average growth in the Leading Index for second quarter was a modest 0.2 percent, compared to first quarter's 1.10 percent. An analysis of historical trends suggests the Leading Index will grow by 0.5 percent during third quarter. The index has increased 1.7 percent since December and 4.4 percent since July

of 1999. The Coincident Indicators Index
was relatively unchanged during July, reaching a level of 162.80 from a revised 162.74 for June.
Leading Indicators forecast economic activity three to six months into the future. Coincident indicators measure current conditions.
Among the active indicators that comprise the Leading Index, the number of new corporate charters filed in July declined 6.95 percent, seasonally adjusted. New motor vehicle registrations were also weaker, dropping 4.15 percent during the month. Consumer sentiment suggests a "wait and see" attitude with a hopeful eye toward the new model

year cars, available this Fall. Surveys suggest that cars with higher fuel efficiency will be in great demand.
Residential construction was up 0.5 percent in July, while nonresidential construction showed significant declines. The value of nonresidential construction fell 31 percent on a seasonally adjusted basis.
Initial claims for unemployment benefits grew 0.6 percent in July. In the Coincident Index, State revenues increased 7.4 percent, while nonagricultural employment was flat. Retail employment grew 0.5 percent in July, and manufacturing employment was off 0.1 percent for the month.

4 Georgia Economic Indicators / September 2000

Georgia Department of Labor

Data Summary

July 2000

Georgia Economic Indicators

Seasonally Adjusted

July 2000

June 2000

Percent Change June 2000
to July 1999 July 2000

Percent Change July 1999
to July 2000

Nonagricultural Employment Retail Employment

3,999,000 747,400

3,999,000 743,600

3,905,000

0.00

2.41

713,000

0.51

4.82

Manufacturing Employment Manufacturing Workweek

603,600 41.3

604,000 41.1

598,800 41.8

-0.07 0.49

0.80 -1.20

Weekly Manufacturing Earnings Deflated Manufacturing Earnings Nonagricultural Job Openings Unfilled Initial Unemployment Claims Continued Unemployment Claims

$533.34 $309.00
16,128 30,426 153,820

$528.21 $306.56
16,434 30,244 130,045

$520.24 $312.08
15,904 30,071 130,684

0.97 0.80 -1.86 0.60 18.28

2.52 -0.99 1.41 1.18 17.70

Unemployment Rate

3.8%

4.1%

3.7%

Insured Unemployment Rate New Motor Vehicle Sales Residential Construction (building permits) Nonresidential Construction (dollar value) Deflated Nonresidential Construction New Business Corporations

0.89% 42,729
7,978 $411,500,000 $360,300,000
4,295

0.90% 44,579
7,933 $597,100,000 $523,300,000
4,616

0.90% 41,507
7,092 $550,600,000 $497,800,000
4,363

-4.15 0.57 -31.08 -31.15 -6.95

2.94 12.49 -25.26 -27.62 -1.56

Total State Revenues

$1,142,968,000 $1,064,690,000 $1,037,833,000

7.35

10.13

Deflated Total State Revenues

$662,206,000

$617,928,000

$622,575,000

7.17

6.37

Georgia Department of Labor

Georgia Economic Indicators / September 2000 5

Georgia Economic Indicators

Nonagricultural Employment

4.14

1998-99

1999-2000

4.04

MILLIONS

3.94

3.84

3.74

3.64

A

S

O

N

D

J

F

M

A

M

J

J

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
3,761,000 3,770,000 3,779,000 3,790,000 3,795,000 3,810,000 3,828,000 3,844,000 3,863,000 3,874,000 3,885,000 3,905,000

1999-2000
3,914,000 3,920,000 3,940,000 3,950,000 3,953,000 3,976,000 3,984,000 3,992,000 4,005,000 3,997,000 3,999,000 3,999,000

Retail Employment

777.0

1998-99

1999-2000

751.6

726.2

THOUSANDS

700.8

675.4

650.0

A

S

O

N

D

J

F

M

A

M

J

J

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
680,000 682,900 685,900 686,700 686,000 688,300 693,200 694,200 698,700 702,800 706,900 713,000

1999-2000
715,600 718,900 722,300 726,200 729,500 738,800 739,500 742,700 743,600 744,300 743,600 747,400

Manufacturing Employment

612

1998-99

1999-2000

608

604

THOUSANDS

600

595

591

A

S

O

N

D

J

F

M

A

M

J

J

6 Georgia Economic Indicators / September 2000

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
596,300 597,600 598,500 599,200 599,300 597,000 597,500 598,200 598,900 598,500 599,200 598,800

1999-2000
599,900 599,400 600,500 601,300 602,900 605,000 607,000 605,500 606,700 605,800 604,000 603,600

Georgia Department of Labor

Georgia Economic Indicators

Manufacturing Workweek

42.5

1998-99

1999-2000

42.2

41.8

HOURS

41.4

41.1

40.7

A

S

O

N

D

J

F

M

A

M

J

J

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
41.7 41.4 41.8 41.5 41.6 41.7 41.4 41.8 41.8 42.1 42.0 41.8

1999-2000
41.2 41.2 41.7 42.0 42.0 41.9 41.9 41.4 41.6 41.3 41.1 41.3

Average Weekly Manufacturing Earnings

$554

1998-99

1999-2000

$540

DOLLARS

$527

$513

$499

$486

A

S

O

N

D

J

F

M

A

M

J

J

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
$503.24 501.59 506.19 502.19 505.06 508.05 506.37 513.22 518.14 524.99 524.96 520.24

1999-2000
$525.10 524.78 528.07 537.49 537.44 537.78 537.60 531.76 538.51 530.75 528.21 533.34

Deflated Average Weekly Manufacturing Earnings

DOLLARS

$327 $321

1998-99

1999-2000

Monthly Data
Seasonally Adjusted
Month 1998-99

1999-2000

$316

$310

$305

$299

A

S

O

N

D

J

F

M

A

M

J

J

Aug

$307.98

$314.24

Sep

306.60

312.56

Oct

308.65

313.95

Nov

306.21

319.36

Dec

308.15

319.33

Jan

309.22

318.78

Feb

307.82

316.79

Mar

311.04

310.79

Apr

311.76

314.55

May

315.88

309.84

Jun

315.86

306.56

Jul

312.08

309.00

Georgia Department of Labor

Georgia Economic Indicators / September 2000 7

Georgia Economic Indicators

Nonagricultural Job Openings Unfilled*

21.7

1998-99

1999-2000

19.9

THOUSANDS

18.1

16.3

14.5

12.7

A

S

O

N

D

J

F

M

A

M

J

J

* Jobs listed with Georgia Department of Labor

Initial Unemployment Claims

41.7

1998-99

1999-2000

37.6

THOUSANDS

33.6

29.5

25.4

21.3

A

S

O

N

D

J

F

M

A

M

J

J

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
16,759 16,733 17,299 16,146 16,621 15,359 16,991 17,951 17,970 15,453 15,095 15,904

1999-2000
16,836 16,677 16,597 18,240 19,718 17,769 18,496 18,469 17,960 17,631 16,434 16,128

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
28,608 30,575 30,284 33,255 36,731 33,626 31,382 32,108 32,447 28,158 29,939 30,071

1999-2000
32,305 31,368 28,060 31,704 29,891 26,460 27,703 27,494 27,442 32,479 30,244 30,426

Continued Unemployment Claims

174.8

1998-99

1999-2000

160.1

THOUSANDS

145.4

130.7

116.0

101.3

A

S

O

N

D

J

F

M

A

M

J

J

8 Georgia Economic Indicators / September 2000

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
148,505 135,358 131,647 146,623 130,822 128,141 137,539 142,641 142,338 139,366 150,988 130,684

1999-2000
152,173 146,014 142,528 156,091 132,614 141,961 133,909 122,161 133,555 135,082 130,045 153,820

Georgia Department of Labor

Georgia Economic Indicators

Unemployment Rate

4.8

1998-99

1999-2000

4.4

PERCENTAGES

3.9

3.5

3.0

2.6

A

S

O

N

D

J

F

M

A

M

J

J

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
4.1% 4.1% 4.0% 4.0% 3.9% 3.8% 4.1% 4.2% 3.7% 3.7% 3.6% 3.7%

1999-2000
3.9% 3.9% 3.6% 3.7% 3.5% 3.6% 3.5% 3.4% 3.1% 3.3% 4.1% 3.8%

Insured Unemployment Rate

0.99

1998-99

1999-2000

0.95

PERCENTAGES

0.90

0.86

0.81

0.77

A

S

O

N

D

J

F

M

A

M

J

J

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
0.87% 0.88% 0.86% 0.86% 0.88% 0.93% 0.88% 0.88% 0.87% 0.89% 0.90% 0.90%

1999-2000
0.93% 0.90% 0.90% 0.89% 0.87% 0.82% 0.82% 0.84% 0.88% 0.87% 0.90% 0.89%

New Motor Vehicle Sales

THOUSANDS

66

1998-99

1999-2000

59

51

43

36

28

A

S

O

N

D

J

F

M

A

M

J

J

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
40,868 41,852 44,132 46,955 46,827 51,145 48,842 46,277 37,135 40,882 51,899 41,507

1999-2000
45,402 41,644 43,749 49,383 50,136 51,048 56,788 54,325 48,885 50,737 44,579 42,729

Georgia Department of Labor

Georgia Economic Indicators / September 2000 9

Georgia Economic Indicators

Residential Construction

8,900

1998-99

1999-2000

8,415

HOUSEHOLD UNITS

7,929

7,444

6,959

6,473

A

S

O

N

D

J

F

M

A

M

J

J

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
7,468 7,571 8,140 8,169 8,198 7,072 7,440 7,245 7,531 7,282 7,269 7,092

1999-2000
7,231 7,334 7,422 7,646 7,648 8,202 7,993 7,744 7,591 7,944 7,933 7,978

Nonresidential Construction

$700

1998-99

1999-2000

$611

$523

MILLIONS

$434

$345

$256

A

S

O

N

D

J

F

M

A

M

J

J

Deflated Nonresidential Construction

$613

1998-99

1999-2000

$539

$466

MILLIONS

$392

$319

$245

A

S

O

N

D

J

F

M

A

M

J

J

10 Georgia Economic Indicators / September 2000

Monthly Data
Seasonally Adjusted

Month

1998-99

Aug $523,400,000

Sep

534,400,000

Oct

423,300,000

Nov 510,300,000

Dec 477,200,000

Jan

532,600,000

Feb

499,800,000

Mar 509,000,000

Apr

532,000,000

May 454,400,000

Jun

493,600,000

Jul

550,600,000

1999-2000
$495,000,000 483,800,000 374,100,000 401,300,000 471,500,000 481,800,000 456,900,000 564,900,000 508,400,000 516,200,000 597,100,000 411,500,000

Monthly Data
Seasonally Adjusted

Month

1998-99

Aug $491,900,000

Sep

501,300,000

Oct

395,600,000

Nov 475,100,000

Dec 442,300,000

Jan

490,900,000

Feb

460,200,000

Mar 467,400,000

Apr

486,700,000

May 413,800,000

Jun

447,100,000

Jul

497,800,000

1999-2000
$446,800,000 436,200,000 335,800,000 358,600,000 419,900,000 427,100,000 404,000,000 498,600,000 447,100,000 453,200,000 523,300,000 360,300,000

Georgia Department of Labor

Georgia Economic Indicators

New Business Corporations*

5,663

1998-99

1999-2000

5,153

CHARTERS

4,642

4,132

3,621

3,111

A

S

O

N

D

J

F

M

A

M

J

J

* Includes limited liability companies

Total State Revenues

$1,223

1998-99

1999-2000

$1,153

$1,084

MILLIONS

$1,015

$945

$876

A

S

O

N

D

J

F

M

A

M

J

J

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99
3,716 3,689 3,735 3,770 3,852 3,670 4,005 4,171 4,521 3,816 4,298 4,363

1999-2000
4,336 4,535 4,264 4,684 4,787 4,636 4,518 4,574 4,268 5,040 4,616 4,295

Monthly Data
Seasonally Adjusted

Month
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul

1998-99

1999-2000

$1,016,312,000 $1,049,010,000 968,837,000 1,060,373,000 953,234,000 1,095,969,000 993,963,000 1,087,869,000
1,007,950,000 1,047,276,000 1,050,261,000 1,063,648,000 1,002,233,000 1,052,810,000 1,016,013,000 1,054,561,000 1,020,383,000 1,070,483,000 1,059,479,000 1,096,295,000
989,360,000 1,064,690,000 1,037,833,000 1,142,968,000

Deflated Total State Revenues

$695 $665

1998-99

1999-2000

Monthly Averages
Seasonally Adjusted

Month

1998-99

1999-2000

MILLIONS

$635

$606

$576

$546

A

S

O

N

D

J

F

M

A

M

J

J

Aug

$621,978,000 $627,774,000

Sep

592,199,000 631,550,000

Oct

581,240,000 651,587,000

Nov

606,075,000 646,387,000

Dec

614,979,000 622,267,000

Jan

639,234,000 630,497,000

Feb

609,260,000 620,395,000

Mar

615,765,000 616,342,000

Apr

613,949,000 625,282,000

May

637,472,000 639,985,000

Jun

595,283,000 617,928,000

Jul

622,575,000 662,206,000

Georgia Department of Labor

Georgia Economic Indicators / September 2000 11

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