Georgia economic indicators: historical series, Issue 7 (2000)

GEORGIA

H I S T O R I C A L

S E R I E S

Economic

Indicators

Annual Report of Georgia State Labor Market and Economic Trends

1985 - 2000

1IIKA%

Georgia Department of Labor
Michael L. Thurmond Commissioner

Georgia Economic Indicators
Historical Series 1985 - 2000 Data Issue 7
Cover art: The State Capitol - Huey J. Theus, Mableton, Georgia
Georgia Economic Indicators, Historical Series, 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
Michael L. Thurmond, Commissioner Equal Opportunity Employer/Programs - Auxiliary Aids and Services Available Upon Request to Individuals With Disabilities

Introduction
Georgia Economic Indicators, Historical Series, is designed to provide in a single
publication historical data on a number of indicators used to measure movement of the state's economy. It is updated annually.
Data for these indicators have been collected and disseminated for many years by agencies of the state and federal governments and the private sector, 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, the U.S. Bureau of Labor Statistics and F.W. Dodge, a division of McGraw Hill Publishing Co.
As in Georgia Economic Indicators, Monthly Report, a companion publication, data are presented in graphic and tabular form. Figures are seasonally adjusted, using the X-11 ARIMA method. Monthly indicators show movement over the last 24 months. The historical series is a 1985-2000 supplement. 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.
The publications are designed 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 letters to Amelia Butts, director, Workforce Information and Analysis, Georgia Department of Labor, 148 International Boulevard, Atlanta, Georgia 303031751. The telephone number is (404) 656-3177.
Data Sources
Initial Unemployment Claims, Continuing Unemployment Claims, Insured Unemployment Rate, Nonagricultural Employment, Nonfarm Job Openings Unfilled, Weekly Manufacturing Earnings, Retail Employment, Manufacturing Employment and Manufacturing Workweek -- Georgia Department of Labor Seasonally Adjusted Unemployment Rate -- U.S. Bureau of Labor Statistics New Motor Vehicles and Total Revenue Collections -- Georgia Department of Revenue New Business Corporations -- Georgia Secretary of State Residential Construction -- U.S. Department of Commerce Nonresidential Construction -- F.W. Dodge, McGraw-Hill Construction Information Group
2

Georgia Economic Indicators

Nonagricultural Employment
4.5

4.0

MILLIONS

Monthly Averages

3.5

Seasonally Adjusted

Year Average Year Average

3.0

1985 2,569,900 1993 3,108,800

1986 2,671,300 1994 3,266,100

1987 2,781,200 1995 3,403,800

1988 2,875,200 1996 3,521,200

2.5

1989 2,941,600 1997 3,614,400

1990 2,991,300 1998 3,740,700

1991 2,937,100 1999 3,890,667

2.0

1992 2,986,700 2000 3,998,417

1985

1987

1989

1991

1993

1995

1997

1999

2001

Retail Employment

830

730

Monthly Averages

630

Seasonally Adjusted

THOUSANDS

Year Average

Year Average

530

1985 447,300

1993 561,800

1986 471,800

1994 598,400

1987 499,500

1995 628,900

430

1988 518,700

1996 656,100

1989 527,500

1997 667,400

1990 529,700

1998 678,900

1991 518,100

1999 709,583

330

1992 528,600

2000 746,467

1985

1987

1989

1991

1993

1995

1997

1999

2001

Manufacturing Employment

626

THOUSANDS

604

Monthly Averages

582

Seasonally Adjusted

Year Average

Year Average

560

1985 557,100

1993 558,100

1986 564,800

1994 577,300

1987 571,210

1995 587,200

538

1988 574,200

1996 585,100

1989 568,000

1997 588,600

1990 561,100

1998 594,800

1991 541,000

1999 599,317

516

1992 545,200

2000 603,325

1985

1987

1989

1991

1993

1995

1997

1999

2001

3

Georgia Economic Indicators
Manufacturing Workweek
44

HOURS

43

Monthly Averages

42

Seasonally Adjusted

Year Average Year Average

41
40
39 1985

1987

1989

1991

1993

1995

1997

1999

1985 1986 1987 1988 1989 1990 1991 1992
2001

40.6 1993

41.8

41.0 1994

42.4

41.7 1995

42.4

41.4 1996

42.4

41.1 1997

42.4

41.0 1998

41.9

41.0 1999

41.7

41.5 2000

41.3

Weekly Manufacturing Earnings

$610

DOLLARS

$537

Monthly Averages

$464

Seasonally Admjusted

Year Average Year Average

$391

1985 $328.68 1993 $421.59

1986 340.86 1994 438.64

1987 353.75 1995 453.66

1988 358.56 1996 474.56

$318

1989 437.40 1997 493.19

1990 375.61 1998 504.07

1991 392.09 1999 522.45

$245 1985

1987

1989

1991

1993

1995

1997

1999

1992
2001

408.09 2000

536.94

Deflated Manufacturing Earnings

$335

DOLLARS

$322

Monthly Averages

$309

Seasonally Adjusted

Year Average Year Average

$296

1985 $305.54 1993 $291.84

1986 310.98 1994 295.93

1987 311.34 1995 297.70

$283

1988 303.26 1996 302.54

1989 294.05 1997 307.34

1990 287.34 1998 309.23

1991 287.89 1999 313.62

$270 1985

1987

1989

1991

1993

1995

1997

1999

1992
2001

290.83 2000

311.97

4

Georgia Economic Indicators
Nonfarm Job Openings Unfilled
22

THOUSANDS

18

Monthly Averages

14

Seasonally Adjusted

Year Average Year Average

10

1985 7,647 1993 12,254

1986 7,693 1994 16,796

1987 9,078 1995 16,164

1988 9,723 1996 14,254

6

1989 10,823 1997 12,295

1990 10,638 1998 16,224

1991 7,301 1999 16,904

2

1992 8,566 2000 15,836

1985

1987

1989

1991

1993

1995

1997

1999

2001

Initial Unemployment Claims
67

56

THOUSANDS

Monthly Averages

45

Seasonally Adjusted

Year Average Year Average

34

1985 37,161 1993 33,561

1986 36,090 1994 31,397

1987 30,302 1995 34,381

1988 32,930 1996 37,151

23

1989 32,810 1997 26,087

1990 41,583 1998 29,600

1991 43,713 1999 30,901

12

1992 37,523 2000 32,368

1985

1987

1989

1991

1993

1995

1997

1999

2001

Continuing Unemployment Claims

390

THOUSANDS

324

Monthly Averages

258

Seasonally Adjusted

Year Average Year Average

192

1985 182,100 1993 194,927

1986 188,724 1994 172,473

1987 176,120 1995 173,201

126

1988 156,987 1996 168,783

1989 171,619 1997 156,694

1990 204,370 1998 142,734

1991 285,336 1999 141,641

60 1985

1987

1989

1991

1993

1995

1997

1999

1992 241,807 2000 144,807
2001

5

Georgia Economic Indicators

Unemployment Rate
9.4

PERCENTAGES

7.7
Monthly Averages
Seasonally Adjusted 6.0
Year Average Year Average

4.3

1985 6.5% 1993 6.9%

1986 5.9 1994 5.8

1987 5.5 1995 5.2

1988 7.5 1996 4.8

2.6

1989 5.8 1997 4.5

1990 5.5 1998 4.2

1991 5.4 1999 3.8

0.9 1985

1987

1989

1991

1993

1995

1997

1999

1992 5.0 2000 3.5
2001

Insured Unemployment Rate

3.3

PERCENTAGES

2.7

Monthly Averages

2.0

Seasonally Adjusted

Year Average Year Average

1.4

1985 1.81% 1993 1.56%

1986 1.74

1994 1.31

1987 1.58

1995 1.26

1988 1.38

1996 1.20

0.7

1989 1.38

1997 1.07

1990 1.65

1998 0.92

1991 2.30

1999 0.90

0.1

1992 1.94

2000 0.92

1985

1987

1989

1991

1993

1995

1997

1999

2001

New Motor Vehicle Sales
60

51

THOUSANDS

42
Pre-1990 Data Not Available
33

Monthly Averages
Seasonally Adjusted
Year Average Year Average

24

1991 28,443 1996 40,333

1992 29,618 1997 40,333

1993 35,380 1998 43,939

1994 43,591 1999 45,793

15 1985

1987

1989

1991

1993

1995

1997

1999

1995 47,753 2000 48,135
2001

6

Georgia Economic Indicators

Residential Construction
10.36

HOUSEHOLD UNITS (THOUSANDS)

8.416

Monthly Averages

6.472

Seasonally Adjusted

Year Average Year Average

4.528

1985 6,213 1993 4,599

1986 6,336 1994 5,101

1987 5,422 1995 6,989

1988 5,460 1996 6,722

2.584

1989 4,354 1997 6,315

1990 3,638 1998 7,346

1991 3,208 1999 7,380

0.64 1985

1987

1989

1991

1993

1995

1997

1999

1992 3,769 2000 7,622
2001

Nonresidential Construction

$600

MILLIONS

$480

Monthly Averages

Seasonally Adjusted

$360

Year

Average Year

Average

$240

1985 $245,690,000 1993 $213,540,000

1986 245,440,000 1994 243,700,000

1987 278,150,000 1995 340,490,000

1988 273,510,000 1996 300,010,000

$120

1989 273,200,000 1997 384,220,000

1990 209,630,000 1998 480,780,000

1991 197,130,000 1999 486,683,000

$0

1992 205,530,000 2000 485,825,000

1985

1987

1989

1991

1993

1995

1997

1999

2001

Deflated Nonresidential Construction

$525

MILLIONS

$425

Monthly Averages

Seasonally Adjusted

$325

Year

Average Year

Average

1985 $296,685,000 1993 $205,864,000

$225

1986 284,815,000 1994 225,416,000

1987 310,682,000 1995 280,064,000

1988 295,641,000 1996 260,722,000

$125

1989 284,907,000 1997 323,300,000

1990 213,247,000 1998 395,267,000

1991 198,509,000 1999 441,600,000

$25

1992 205,784,000 2000 423,950,000

1985

1987

1989

1991

1993

1995

1997

1999

2001

7

Georgia Economic Indicators

New Corporations
6.5

CHARTERS (THOUSANDS)

5.2
Monthly Averages
Seasonally Adjusted 3.9
Year Average Year Average

2.6

1985 1,769 1993 2,382

1986 1,717 1994 2,664

1987 1,836 1995 3,040

1988 1,923 1996 3,143

1.3

1989 1,979 1997 3,502

1990 1,950 1998 3,785

1991 1,863 1999 4,288

0.0

1992 2,265 2000 4,619

1985

1987

1989

1991

1993

1995

1997

1999

2001

Total State Revenues
$1200

MILLIONS

$990

Monthly Averages

Seasonally Adjusted

$780

Year

Average Year

Average

$570

1985 $386,415,000 1993 $680,547,000

1986 407,511,000 1994 740,294,000

1987 445,963,000 1995 791,810,000

1988 480,924,000 1996 854,101,000

$360

1989 547,944,000 1997 899,932,000

1990 576,926,000 1998 978,042,000

1991 572,394,000 1999 1,042,001,000

$150

1992 609,634,000 2000 1,105,813,000

1985

1987

1989

1991

1993

1995

1997

1999

2001

Deflated Total State Revenues

$775

MILLIONS

$667

Monthly Averages

$559

Seasonally Adjusted

Year

Average Year

Average

$451

1985 $355,184,000 1993 $470,995,000

1986 371,757,000 1994 499,383,000

1987 392,381,000 1995 519,599,000

1988 406,432,000 1996 544,563,000

$343

1989 441,873,000 1997 560,610,000

1990 441,573,000 1998 599,919,000

1991 420,285,000 1999 625,501,000

$235

1992 434,341,000 2000 642,321,849

1985

1987

1989

1991

1993

1995

1997

1999

2001

8