Georgia economic indicators: historical series, Issue 9 (2002)

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

1990 - 2002

Issue 9

Georgia Department of Labor
Michael L. Thurmond Commissioner

Georgia Economic Indicators
Historical Series 1990 - 2002 Data Issue 9
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 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

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, Quarterly Report, a companion publication, data are presented in graphic and tabular form. Figures are seasonally adjusted, using the X-11 ARIMA method. Companion graphs show monthly data movements over the historical time series; whereas, data tables display yearly averages for the historical time period. The historical series is a 1990-2002 supplement. 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.
Please note: Annually, employment estimates are adjusted to a count of all employees in a geographical area (known as benchmarking). Revisions to 2002, 2001 and 2000 nonfarm jobs have been completed. These newly benchmarked series are reflected in this issue. This issue also includes newly converted employment data ( nonagricultural, retail and manfacturing employment ) that were converted to the new North American Industry Classifications System ( NAICS).
Workforce Information and Analysis welcomes comments, suggestions or questions concerning Georgia Economic Indicators, Quarterly Report and Georgia Economic Indicators, Historical Series. Please address letters 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
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 *
4.4

4.0

3.7

Monthly Averages

Seasonally Adjusted

MILLIONS

Year Average Year Average
3.3
1990 2,992,200 1997 3,614,200

1991 2,937,600 1998 3,740,600

1992 2,986,300 1999 3,854,800

3.0

1993 3,109,400 2000 3,948,300

1994 3,265,700 2001 3,943,500

1995 3,402,100 2002 3,905,900

2.6

1996 3,527,300

90

92

94

96

98

00

02

Retail Employment *

605

530

THOUSANDS

455

Monthly Averages

Seasonally Adjusted

Year Average

Year Average

380

1990 358,300

1997 434,900

1991 345,000

1998 444,000

1992 347,900

1999 455,600

305

1993 363,300

2000 469,500

1994 385,600

2001 460,800

1995 405,600

2002 454,200

230

1996 427,000

90

92

94

96

98

00

02

Manufacturing Employment *

590

555

THOUSANDS

Monthly Averages

520

Seasonally Adjusted

Year

Average

485

1990

506,600

1991

483,600

1992

491,500

450

1993

511,600

1994

526,900

1995

540,200

1996

544,500

415

90

92

94

96

98

00

02

* Annual averages may vary from officially published series due to seasonal adjustment methodology and rounding.

Year
1997 1998 1999 2000 2001 2002

Average
547,700 545,800 543,800 534,700 498,400 471,900

3

Georgia Economic Indicators
Manufacturing Workweek*

46

44

43

HOURS

41

40

38

90

92

94

96

98

Weekly Manufacturing Earnings*

$625

00

02

Monthly Averages
Seasonally Adjusted

Year
1990 1991 1992 1993 1994 1995 1996

Average
40.9 40.9 41.4 41.7 42.4 42.3 42.3

Year
1997 1998 1999 2000 2001 2002

Average
42.4 41.8 41.9 41.4 40.4 40.9

DOLLARS

$560

Monthly Averages

$495

Seasonally Adjusted

Year

Average

Year Average

$430

1990 $374.88

1997 $493.14

1991

391.47

1998

503.10

1992

407.93

1999

522.43

$365

1993

420.22

2000

537.90

1994

438.63

2001

505.33

1995

452.83

2002

547.46

$300

1996

473.54

90

92

94

96

98

00

02

Deflated Manufacturing Earnings

$365

DOLLARS

$340

Monthly Averages

$315

Seasonally Adjusted

Year

Average

Year Average

$290

1990 $286.83

1997 $307.25

1991

287.42

1998

308.65

1992

290.75

1999

313.59

$265

1993

290.81

2000

312.37

1994

295.97

2001

285.34

1995

297.14

2002

304.31

$240

1996

301.81

90

92

94

96

98

00

02

4

* Annual averages may vary from officially published series due to seasonal adjustment methodology and rounding.

Georgia Economic Indicators
Nonfarm Job Openings Unfilled
25

THOUSANDS

20

Monthly Averages

16

Seasonally Adjusted

Year Average

Year Average

11

1990 10,909

1997 12,492

1991 7,397

1998 15,850

1992 8,683

1999 16,962

7

1993 12,128

2000 15,830

1994 16,792

2001 9,086

1995 16,170

2002 9,962

2

1996 14,443

90

92

94

96

98

00

02

Initial Unemployment Claims

85

69

THOUSANDS

Monthly Averages

53

Seasonally Adjusted

Year Average

Year Average

37

1990 41,278

1997 25,502

1991 43,798

1998 29,880

1992 37,550

1999 30,788

21

1993 33,985

2000 33,229

1994 32,285

2001 54,845

1995 33,995

2002 47,930

5

1996 30,866

90

92

94

96

98

00

02

Continuing Unemployment Claims

450

THOUSANDS

372

Monthly Averages

294

Seasonally Adjusted

Year Average

Year Average

216

1990 204,574

1997 159,731

1991 285,859

1998 142,875

1992 242,314

1999 142,056

138

1993 195,731

2000 149,768

1994 173,018

2001 269,152

1995 176,560

2002 319,495

60

1996 169,247

90

92

94

96

98

00

02

5

Georgia Economic Indicators

Unemployment Rate
9.7%

PERCENTAGES

7.9%

Monthly Averages

6.2%

Not Seasonally Adjusted

Year Average

Year Average

1990

5.5%

1997 4.5%

4.4%

1991

5.0

1998 4.2

1992

7.0

1999 4.0

2.7%

1993

5.8

2000 3.7

1994

5.2

2001 4.0

1995

4.9

2002 5.1

0.9%

1996

4.6

90

92

94

96

98

00

02

Insured Unemployment Rate

3.5%

PERCENTAGES

2.8%

Monthly Averages

2.1%

Seasonally Adjusted

Year Average

Year Average

1.4%

1990 1.64%

1997 1.07%

1991 2.31

1998 0.93

1992 1.94

1999 0.89

0.7%

1993 1.55

2000 0.93

1994 1.34

2001 1.61

1995 1.26

2002 1.97

0.0%

1996 1.20

90

92

94

96

98

00

02

New Motor Vehicle Sales

80

65
Monthly Averages
Seasonally Adjusted 50

THOUSANDS

Year Average

Year Average

1990 32,572

1997 40,406

35

1991 28,469

1998 44,099

1992 29,975

1999 47,079

20

1993 36,459

2000 48,478

1994 41,547

2001 47,534

1995 42,800

2002 45,042

5

1996 43,525

90

92

94

96

98

00

02

6

Georgia Economic Indicators

Residential Construction
12

HOUSEHOLD UNITS (THOUSANDS)

9

Monthly Averages
Seasonally Adjusted 7

Year

Average

Year Average

1990

3,423

1997 6,356

5

1991

3,208

1998 7,349

1992

3,768

1999 7,546

1993

4,597

2000 7,688

3

1994

5,109

2001 7,750

1995

6,432

2002 8,006

1

1996

6,614

90

92

94

96

98

00

02

Nonresidential Construction

$1,000

MILLIONS

$800

Monthly Averages

Seasonally Adjusted

$600

Year

Average

Year

Average

1990 $217,465,000 1997 $398,973,500

$400

1991 194,721,400 1998 482,612,200

1992 205,443,500 1999 531,936,200

1993 212,950,700 2000 510,899,200

$200

1994 252,999,000 2001 490,767,800

1995 364,952,800 2002 454,724,700

1996 312,783,000
$0

90

92

94

96

98

00

02

Deflated Nonresidential Construction

$875

MILLIONS

$700

Monthly Averages
Seasonally Adjusted $525

Year

Average

Year

Average

1990 $260,749,400 1997 $387,730,000
$350
1991 231,535,600 1998 457,020,000

1992 239,444,600 1999 481,830,000

$175

1993 236,611,900 2000 443,100,000

1994 268,576,400 2001 410,340,000

1995 371,642,400 2002 372,420,000

$0

1996 312,783,000

90

92

94

96

98

00

02

7

Georgia Economic Indicators

New Corporations
8

CHARTERS (THOUSANDS)

6

Monthly Averages

Seasonally Adjusted 5

Year

Average

Year Average

1990

1,948

1997

3,601

3

1991

1,860

1998

3,866

1992

2,183

1999

4,304

1993

2,397

2000

4,630

2

1994

2,660

2001

4,441

1995

3,040

2002

5,097

0

1996

3,146

90

92

94

96

98

00

02

Total State Revenues
$1.8

BILLIONS

$1.5

Monthly Averages
Seasonally Adjusted $1.2

Year

Average

Year

Average

1990 $577,976,436 1997 $899,369,038
$0.9
1991 568,447,813 1998 977,394,307

1992 608,900,252 1999 1,043,466,696

$0.6

1993 679,815,602 2000 1,132,582,848

1994 733,236,708 2001 1,126,646,517

1995 786,966,317 2002 1,062,435,839

$0.3

1996 859,200,523

90

92

94

96

98

00

02

Deflated Total State Revenues

$985

MILLIONS

$835

Monthly Averages

$685

Seasonally Adjusted

Year Average

Year Average

$535

1990 $442,216,095 1997 $560,354,541

1991 417,362,565 1998 599,628,409

1992 433,998,754 1999 626,330,550

$385

1993 470,460,624 2000 657,713,616

1994 494,761,611 2001 636,164,041

1995 516,382,098 2002 590,570,228

$235

1996 547,610,276

90

92

94

96

98

00

02

8