Georgia economic indicators, monthly report [Vol. 7, no. 3 (May 2001)]

GEORGIA

Economic

Indicators

A Monthly Report of Georgia State Labor Market and Economic Trends

May 2001

Volume 7, Issue 3

Georgia Department of Labor
Michael L. Thurmond Commissioner

Georgia Economic Indicators
Monthly Report March 2001 Data Volume 7, Issue 3 May 2001
Cover art: Dillard House, Dillard, Georgia - 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 Andrew Young International Boulevard, Atlanta, Georgia 30303-1751. 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
Michael L. Thurmond, Commissioner

Equal Opportunity Employer/Programs - Auxiliary Aids and Services Available Upon Request to Individuals With Disabilities

Georgia Department of Labor

Georgia Economic Indicators / May 2001 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 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.
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 Bill Webb, Workforce Information and Analysis, Georgia Department of Labor, 148 Andrew Young 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
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 / May 2001

Georgia Department of Labor

Consumer Price Index

YEAR 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001

JAN
62.5 68.3 77.8 87.0 94.3 97.8 101.9 105.5 109.6 111.2 115.7 121.1 127.4 134.6 138.1 142.6 146.2 150.3 154.4 159.1 161.6 164.3 168.7 175.1

FEB
62.9 69.1 78.9 87.9 94.6 97.9 102.4 106.0 109.3 111.6 116.0 121.6 128.0 134.8 138.6 143.1 146.7 150.9 154.9 159.6 161.9 164.5 169.7 175.8

MAR
63.4 69.8 80.1 88.5 94.5 97.9 102.6 106.4 108.8 112.1 116.5 122.3 128.7 135.0 139.3 143.6 147.2 151.4 155.7 160.0 162.2 165.0 171.1 176.2

APR MAY
63.9 64.5 70.6 71.5 81.0 81.8 89.1 89.8 94.9 95.8 98.6 99.2 103.1 103.4 106.9 107.3 108.6 108.9 112.7 113.1 117.1 117.5 123.1 123.8 128.9 129.2 135.2 135.6 139.5 139.7 144.0 144.2 147.4 147.5 151.9 152.2 156.3 156.6 160.2 160.1 162.5 162.8 166.2 166.2 171.2 171.3

JUN
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
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
66.0 73.8 88.3 92.3 97.7 100.2 104.5 108.0 109.7 114.4 119.0 124.6 131.6 136.6 140.9 144.8 149.0 152.9 157.3 160.8 163.4 167.1 172.8

SEP
66.5 74.6 84.0 93.2 97.9 100.7 105.0 108.3 110.2 115.0 119.8 125.0 132.7 137.2 141.3 145.1 149.4 153.2 157.8 161.2 163.6 167.9 173.7

OCT
67.1 75.2 84.8 93.4 98.2 101.0 105.3 108.7 110.3 115.3 120.2 125.0 133.5 137.4 141.9 145.7 149.5 153.7 158.3 161.6 164.0 168.2 174.0

Chart is not seasonally adjusted

NOV
67.4 75.9 85.5 93.7 98.0 101.2 105.3 109.0 110.4 115.4 120.3 125.9 133.8 137.8 142.0 145.8 149.7 153.6 158.6 161.5 164.0 168.3 174.1

DEC
67.7 76.7 86.3 94.0 97.6 101.3 105.3 109.3 110.5 115.4 120.5 126.1 133.8 137.9 141.9 145.8 149.7 153.5 158.6 161.3 163.9 168.3 174.0

AVG
65.2 72.6 82.4 90.9 96.5 99.6 103.9 107.6 109.6 113.6 118.3 124.0 130.7 136.2 140.3 144.5 148.2 152.4 156.9 160.5 163.0 166.6 172.1

CPI RATE
9.0% 13.3% 12.5% 8.9% 3.8% 3.8% 3.9% 3.8% 1.1% 4.4% 4.4% 4.6% 6.1% 3.1% 2.9% 2.7% 2.7% 2.5% 3.3% 1.7% 1.6% 2.7% 3.4%

U.S. BUREAU OF LABOR STATISTICS
Consumer Prices Increased 0.2 Percent in March

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in March, before seasonal adjustment, to a level of 176.2 (198284=100), as recently reported by the Bureau of Labor Statistics of the U.S. Department of Labor. For the 12month period ending in March, the CPI-U increased 2.9 percent.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) rose 0.1 percent in March, prior to seasonal adjustment. The March level of 172.6 was 2.8 percent higher than the index in March 2000.
On a seasonally adjusted basis, the CPI-U rose 0.1 percent in March, following increases of 0.6 and 0.3 percent in the first two months of the year. The energy index declined for the second consecutive month, down 2.1 percent in March. The index for energy services fell 0.6 percent, as a 2.1 percent decline in the index for natural gas offset a 0.5 percent rise in the index for electricity. The index for petroleum-based energy declined 3.7
Georgia Department of Labor

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

4.0

Divided by the previous index

108.5

Equals

0.037

Results multiplied by 100

0.037 x 100

Equals percent change

3.7%

percent. The food index, which increased 0.5 percent in February, rose 0.2 percent in March.
Excluding food and energy, the CPI-U rose 0.2 percent in March, following increases of 0.3 percent in January and February. Smaller increases in the indexes for medical care and for apparel, coupled with downturns in the indexes for tobacco,

recreation, household furnishings and operations accounted for the moderation.
The food index, which rose 2.8 percent in all of 2000, has increased 4.1 percent, seasonally adjusted, thus far in 2001. Grocery store food prices also have risen at a rate of 4.1 percent seasonally adjusted in the first quarter.
The CPI-U, excluding food and energy, advanced at a 3.5 percent seasonally adjusted annual rate (SAAR) in the first quarter of 2001 following a 2.6 percent rise for all of 2000. The acceleration in the first quarter reflects the rising cost of both services and commodities. The index for services, less energy services, rose at a rate of 4.2 percent SAAR after advancing 3.4 percent in all of 2000. In particular, the rising costs for shelter and for medical care services contributed to the acceleration. The recent increase in healthcare costs mainly reflects the increases in the cost of professional services.

Georgia Economic Indicators / May 2001 3

Georgia Index of Economic Indicators
197.7
Leading indicators Coincident indicators
173.0

148.3

123.7

99.0

1987-88 = 100

74.4

91

92

93

94

95

96

97

98

99

00

01

02

Georgia's Coincident Indicator declines 0.9 percent in March

Note: All indicators are seasonally adjusted.

***
The Georgia Department of Labor's Index of Leading Economic Indicators increased 0.1 percent in March to 166.2 from a revised 166.03, after seasonal adjustment. The index has grown 1.7 percent since March 2000. State revenues decreased 15.3 percent, seasonally adjusted. Employment also declined slightly as total nonagricultural payroll employment remained unchanged. Manufacturing employment decreased 0.7 percent for the month. The number of unfilled job openings also declined 3.0 percent during March, reversing February's increase. Initial unemployment claims remained stable for the current reporting period.

Recent 12 Months
169.5 Leading Coincident
167.5

165.5

163.5

161.5 159.5

1993 = 100

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 Georgia Economic Indicators / May 2001

The Index of Coincident Indicators moved lower for the month, decreasing to 162.02 from a revised February index of 163.52 or 0.92 percent. Residential construction declined sharply by 9.5 percent pushing the index lower as nonresidential construction edged up 1.0 percent. Retail employment also increased 0.7 percent. The manufacturing work week remained at a constant level. The statewide preliminary unemployment rate for March increased to 3.7 percent; however, it still remains below the March 2000 rate of 3.9 percent. Also, the insured unemployment rate increased to 1.28 percent for the month.
Georgia Department of Labor

Data Summary

March 2001

Georgia Economic Indicators
Seasonally Adjusted

Mar 2001

Feb 2001

Mar 2000

Percent Percent

Change Change

Feb 2001 Mar 2000

to

to

Mar 2001 Mar 2001

Nonagricultural Employment Retail Employment

4,043,870 736,371

4,045,042 731,550

3,987,167 740,516

-0.03 0.66

1.42 -0.56

Manufacturing Employment Manufacturing Workweek

574,910 40.3

579,216 40.0

604,713 41.3

-0.74 0.75

-4.93 -2.42

Weekly Manufacturing Earnings

$528.23

$522.38

$530.86

1.12

-0.50

Deflated Manufacturing Earnings

$299.79

$297.14

$310.26

0.89

-3.38

Nonagricultural Job Openings Unfilled

11,596

11,955

19,359

-3.00 -40.10

Initial Unemployment Claims

45,582

45,517

26,430

0.14

72.47

Continued Unemployment Claims Unemployment Rate (Not seasonally adjusted)

182,949 3.7%

195,343 3.6%

122,763 3.9%

-6.34

49.03

Insured Unemployment Rate

1.28%

1.18%

0.83%

New Motor Vehicle Sales

48,624

44,725

55,190

Residential Construction (building permits)

7,287

8,054

8,262

Nonresidential Construction (dollar value) $442,190,000 $438,065,000 $555,717,000

Deflated Nonresidential Construction

$375,373,500 $373,138,800 $490,482,800

New Business Corporations

5,033

4,498

4,696

Total State Revenues

$919,280,000 $1,084,760,000 $1,002,041,000

Deflated Total State Revenues

$521,725,300 $617,042,100 $585,646,400

8.72 -9.52 0.94 0.60 11.89 -15.25 -15.45

-11.90 -11.80 -20.43 -23.47
7.17 -8.26 -10.91

Georgia Department of Labor

Georgia Economic Indicators / May 2001 5

Georgia Economic Indicators
Nonagricultural Employment
4.13 1999-2000 2000-2001
4.06

MILLIONS

3.99

3.92

3.85

3.78

A

M

J

J

A

S

O

N

D

J

F

M

Monthly Data
Seasonally Adjusted

Month
M ay Jun
Jul A ug
Sep O ct N ov D ec Jan F eb M ar Apr

1999-2000
3 ,8 7 7 ,0 4 7 3 ,8 9 4 ,0 7 5
3 ,9 0 1 ,3 2 1 3 ,9 1 0 ,8 8 8
3 ,9 2 2 ,0 5 6 3 ,9 4 2 ,5 2 3 3 ,9 5 5 ,2 2 9 3 ,9 6 3 ,6 5 6 3 ,9 6 5 ,6 6 0 3 ,9 6 2 ,1 5 4 3 ,9 8 7 ,1 6 7 4 ,0 0 4 ,2 4 2

2000-2001
4 ,0 0 0 ,0 2 8 3 ,9 9 5 ,8 6 4
4 ,0 0 5 ,4 0 4 4 ,0 0 5 ,5 5 9
4 ,0 0 9 ,0 1 9 4 ,0 0 6 ,9 8 0 4 ,0 1 0 ,5 4 6 4 ,0 2 4 ,4 2 7 4 ,0 4 0 ,1 8 0 4 ,0 4 5 ,0 4 2 4 ,0 4 1 ,8 6 7 4 ,0 5 1 ,7 8 3

Retail Employment

787.7

1999-2000

2000-2001

763.5

739.3

THOUSANDS

715.1

690.9

666.7

A

M

J

J

A

S

O

N

D

J

F

M

Monthly Data
Seasonally Adjusted

Month
M ay Jun
Jul A ug
Sep O ct N ov D ec Jan F eb M ar Apr

1999-2000
702,5 88 707,1 23
712,0 12 715,7 31
715,2 85 724,1 16 729,9 68 740,6 37 733,8 76 735,5 40 740,5 16 746,2 62

2000-2001
744,202 743,872
746,516 746,312
745,849 753,997 758,707 735,734 732,765 731,550 734,253 734,030

Manufacturing Employment

620

1999-2000

2000-2001

608

596

THOUSANDS

585

573

561

A

M

J

J

A

S

O

N

D

J

F

M

6 Georgia Economic Indicators / May 2001

Monthly Data
Seasonally Adjusted

Month
M ay Jun
Jul A ug
Sep O ct N ov D ec Jan F eb M ar Apr

1999-2000
5 9 8 ,0 3 3 5 9 9 ,5 0 2
5 9 7 ,9 5 1 6 0 0 ,2 7 4
5 9 9 ,8 3 5 6 0 0 ,6 8 6 6 0 1 ,4 0 5 6 0 1 ,9 7 7 6 0 5 ,1 8 0 6 0 6 ,4 5 8 6 0 4 ,7 1 3 6 0 5 ,2 2 2

2000-2001
6 0 5 ,3 1 4 6 0 4 ,1 8 3
6 0 4 ,5 8 7 6 0 2 ,5 6 2
6 0 2 ,9 6 9 6 0 3 ,6 0 1 5 9 9 ,7 1 1 5 8 2 ,1 4 3 5 7 6 ,1 7 7 5 7 9 ,2 1 6 5 7 4 ,6 1 0 5 7 4 ,5 0 5

Georgia Department of Labor

Georgia Economic Indicators

Manufacturing Workweek

43.3

1999-2000

2000-2001

42.5

HOURS

41.6

40.8

39.9

39.1

A

M

J

J

A

S

O

N

D

J

F

M

Monthly Data
Seasonally Adjusted

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

1999-2000
42.1 42.0 41.7 41.2 41.2 41.7 42.1 42.4
41.9 41.6 41.3 41.7

2000-2001
40.6 41.1 41.3 41.5 40.8 41.5 41.1 40.8
40.7 40.0 40.3 39.1

Average Weekly Manufacturing Earnings

$562

1999-2000

2000-2001

$549

DOLLARS

$536

$523

$510

$497

A

M

J

J

A

S

O

N

D

J

F

M

Monthly Data
Seasonally Adjusted

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

1999-2000
$526.24 522.68 517.85 514.01 524.12 528.36 539.58 544.48
537.38 534.59 530.86 539.06

2000-2001
$520.69 525.93 533.24 541.00 535.46 544.57 544.07 535.92
525.05 522.38 526.21 503.53

Deflated Average Weekly Manufacturing Earnings

$335 $325

1999-2000

2000-2001

Monthly Data
Seasonally Adjusted
Month 1999-2000

2000-2001

DOLLARS

$315

$305

$296

$286

A

M

J

J

A

S

O

N

D

J

F

M

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

$316.63 314.49 310.65 307.61 312.16 314.12 320.61 323.52
318.54 315.02 310.26 314.87

$303.97 305.24 308.95 313.08 308.27 312.97 312.50 308.00
299.85 297.14 298.64 284.64

Georgia Department of Labor

Georgia Economic Indicators / May 2001 7

Georgia Economic Indicators

Nonagricultural Job Openings Unfilled*

23.1

1999-2000

2000-2001

20.0

THOUSANDS

16.8

13.7

10.5

7.4

A

M

J

J

A

S

O

N

D

J

F

M

* Jobs listed with the Georgia Department of Labor

Initial Unemployment Claims

62.4

1999-2000

2000-2001

52.8

THOUSANDS

43.2

33.6

24.0

14.3

A

M

J

J

A

S

O

N

D

J

F

M

Monthly Data
Seasonally Adjusted

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

1999-2000
15,668 14,848 16,182 17,257 17,162 16,894 17,741 18,997 16,116 18,335 19,359 18,446

2000-2001
17,760 15,990 16,354 15,881 14,124 13,640 12,566 11,507 10,951 11,955 11,596 10,661

Monthly Data
Seasonally Adjusted

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

1999-2000 25,153 28,799 31,190 31,429 29,589 27,653 28,483 32,536 30,852 27,421 26,430 25,740

2000-2001 28,821 29,186 31,422 34,375 34,313 38,271 45,620 43,776 50,354 45,517 45,582 58,638

Continued Unemployment Claims

250.9

1999-2000

2000-2001

217.3

THOUSANDS

183.8

150.3

116.7

83.2

A

M

J

J

A

S

O

N

D

J

F

M

8 Georgia Economic Indicators / May 2001

Monthly Data
Seasonally Adjusted

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

1999-2000 123,364 156,918 128,964 162,340 132,319 139,033 154,977 138,052 153,719 134,472 122,763 131,083

2000-2001 148,971 135,417 151,092 152,030 147,905 184,770 164,381 167,498 211,150 195,343 182,949 264,655

Georgia Department of Labor

Georgia Economic Indicators

Unemployment Rate *

4.8

1999-2000

2000-2001

4.3

PERCENTAGES

3.8

3.3

2.8

2.3

A

M

J

J

A

S

O

N

D

J

F

M

* Not Seasonally Adjusted

Insured Unemployment Rate

1.47

1999-2000

2000-2001

1.30

PERCENTAGES

1.13

0.96

0.80

0.63

A

M

J

J

A

S

O

N

D

J

F

M

Monthly Data
Not Seasonally Adjusted

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

1999-2000
4.1 % 4.2 3.7 3.7 3.6 3.7 4.1 4.1 3.9 3.6 3.8 3.9

2000-2001
3.5 % 3.4 3.1 3.3 4.1 3.8 4.0 3.8 3.7 3.3 3.6 3.7

Monthly Data
Seasonally Adjusted

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

1999-2000
0.87 % 0.88 0.93 0.93 0.90 0.88 0.88 0.85 0.87 0.83 0.83 0.85

2000-2001
0.85 % 0.89 0.92 0.97 0.94 0.95 1.04 1.21 1.18 1.18 1.28 1.33

New Motor Vehicle Sales

68

1999-2000

2000-2001

60

Monthly Data
Seasonally Adjusted

Month

1999-2000

2000-2001

THOUSANDS

51

43

35

27

A

M

J

J

A

S

O

N

D

J

F

M

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

41,935 52,760 42,573 46,239 42,194 43,629 58,133 48,037 52,718 54,602 55,190 50,779

52,123 44,609 43,177 54,003 45,653 45,177 44,090 36,195 56,975 44,725 48,624 52,108

Georgia Department of Labor

Georgia Economic Indicators / May 2001 9

Georgia Economic Indicators

Residential Construction

10,118

1999-2000

2000-2001

9,047

HOUSEHOLD UNITS

7,976

6,905

5,834

4,762

A

M

J

J

A

S

O

N

D

J

F

M

Monthly Data
Seasonally Adjusted

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

1999-2000
6,088 8,793 7,155 7,489 7,323 7,288 8,622 7,203 8,031 8,125 8,262 7,941

2000-2001
8,084 7,732 7,965 7,186 7,441 7,157 7,210 6,920 8,628 8,054 7,287 7,784

Nonresidential Construction

$999

1999-2000

2000-2001

$830

$660

MILLIONS

$491

$322

$153

A

M

J

J

A

S

O

N

D

J

F

M

Deflated Nonresidential Construction

$890

1999-2000

2000-2001

$740

$589

MILLIONS

$439

$289

$139

A

M

J

J

A

S

O

N

D

J

F

M

10 Georgia Economic Indicators / May 2001

Monthly Data
Seasonally Adjusted

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

1999-2000
$487,330,000 545,301,000 572,688,000 539,049,000 474,775,000 365,637,000 431,639,000 724,342,000 480,575,000 391,992,000 555,717,000 789,116,000

2000-2001
$548,667,000 654,704,000 426,077,000 393,006,000 586,325,000 519,280,000 365,900,000 469,039,000 559,265,000 438,065,000 442,190,000 619,469,000

Monthly Data
Seasonally Adjusted

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

1999-2000
$443,834,200 493,932,100 517,801,100 486,506,300 428,110,900 328,219,900 385,736,400 645,006,200 426,041,700 346,588,900 490,482,800 692,814,700

2000-2001
$480,444,000 571,793,900 370,824,200 341,744,300 508,080,600 448,815,900 314,617,400 401,918,600 477,596,100 373,138,800 375,373,500 524,973,700

Georgia Department of Labor

Georgia Economic Indicators

New Business Corporations*

5,765

1999-2000

2000-2001

5,299

CHARTERS

4,832

4,366

3,900

3,433

A

M

J

J

A

S

O

N

D

J

F

M

* Includes limited liability companies

Total State Revenues

$1,579

1999-2000

2000-2001

$1,407

$1,234

MILLIONS

$1,062

$890

$717

A

M

J

J

A

S

O

N

D

J

F

M

Monthly Data
Seasonally Adjusted

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

1999-2000
3,896 4,318 4,334 4,316 4,622 4,049 4,427 4,762 4,731 4,588 4,696 4,296

2000-2001
5,172 4,652 4,203 5,098 4,274 4,566 4,779 4,381 4,880 4,498 5,033 4,745

Monthly Data
Seasonally Adjusted

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

1999-2000

2000-2001

$1,014,950,000 1,020,119,000 1,013,915,000 1,152,734,000
956,358,000 1,082,132,000 1,104,184,000 1,046,748,000 1,150,812,000 1,025,035,000 1,002,041,000 1,054,124,000

$1,364,711,000 1,067,272,000 1,133,065,000 1,177,333,000 1,111,664,000 1,227,641,000 1,146,891,000 1,107,590,000 1,358,146,000 1,084,760,000
919,280,000 964,287,000

Deflated Total State Revenues

$915

1999-2000

2000-2001

Monthly Data
Seasonally Adjusted

MILLIONS

$813

$712

$610

$509

$407

A

M

J

J

A

S

O

N

D

J

F

M

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

1999-2000
$610,679,900 613,790,000 608,227,400 689,846,800 569,599,800 643,360,300 656,080,800 621,953,700 682,164,800 604,027,700 585,646,400 615,726,600

2000-2001
$796,678,900 619,426,600 656,468,700 681,327,000 639,990,800 705,540,800 658,754,200 636,546,000 775,640,200 617,042,100 521,725,300 545,102,900

Georgia Department of Labor

Georgia Economic Indicators / May 2001 11

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