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