| ECONOMIC SNAPSHOT 4Q 2009 Summary of Atlanta's Economy |
||
|
Employment • Unemployment rates in the city averaged 11.1 percent in the fourth quarter of 2009, up from 8.1 percent in the fourth quarter of 2008. • Fourth quarter unemployment rates in the city held above the statewide rate of 10 percent and national rate of 9.5 percent. • Over the last year, unemployment rates peaked in July 2009 at 11.9 percent, declining slightly for the remainder of the year. • The city's civilian labor force averaged 211,711 in the fourth quarter of 2009, down 6,026, or 2.8 percent, from one year earlier. |
 |
|
| __________________________________________ |
||
|
Residential Building Permits • There were 304 additional residential units permitted in the fourth quarter, down 64 units or 17.4 percent from one year earlier. • The value of new residential building permits in the city equaled $22.1 million in the fourth quarter, down $5.8 million or 20.1 percent from one year earlier. |
 |
|
| __________________________________________ |
||
|
Commercial Real Estate • Although new office supply is outpacing demand, overall average asking rents were relatively stable at $21.32 per square foot. • Job losses resulted in 2.3 million square feet of negative overall absorption in the Atlanta office market in 2009. • Commercial office leasing activity decreased by 20 percent in 2009. |
 |
|
|
|
Tourism, Travel and Transit • Cargo at the Hartsfield-Jackson Atlanta International Airport increased by 8,291 metric tons, or 5.5 percent in the fourth quarter from one year earlier to a total of 159,103 metric tons. • Total airport passengers equaled 21.4 million in the fourth quarter, down by about one-half million or 2.5 percent from one-year earlier. • Rental car transactions at the airport totaled 333,951 in the fourth quarter. • Retail sales at airport concessions equaled $22,907,716 in the fourth quarter. • MARTA total passenger boardings equaled 36.8 million in the fourth quarter, down 2.5 million or 6.5 percent from one year earlier. • Hotel occupancy dropped in three of the four areas covering the Atlanta City region. Occupancy increased 0.4 percent in Buckhead. • Atlanta citywide hotel room nights booked for 2010 equals 1,063,869, up 314,425 room nights or 42 percent from 2009, a record number for the city. • 2010 Atlanta bookings: • 19 citywide groups with more than 5,000 hotel rooms occupied on any given night, the highest number in the city's history. • Hosting 11 of the top 200 tradeshows. • More than 50 meetings that will fill 1,500 or more hotel rooms, equating to more than one million room nights. Film & TV Production • $700 million in film and TV production shot in Atlanta in 2009. • Film and TV productions include:
|
Hartsfield-Jackson Atlanta International Airport Cargo (total metric tons)
Passengers
Metropolitan Atlanta Rapid Transit Authority Passengers (bus & rail)
__________________________________________________ Atlanta Convention & Visitors Bureau Hotel Occupancy (4Q Average)
|
|
City business license analysis Key findings from an analysis of city business licenses between 2005 and 2008: Employment • In 2008, there were 189,946 persons working at 344 different types of private establishments. • The total number of workers increased by 43,281 (29 percent) between 2005 and 2008. • Restaurants, Misc Business Service, Hotel/Motels, and Consultant/Management/Business Counselors account for 31.9 percent of all private jobs in 2008. Business Type • In 2008, there were 19,329 firms at 344 different types of private establishments. The total number of establishments increased by 8,563 (79.5 percent) between 2005 and 2008. • Misc. Business Services, Restaurants, Real Estate Agents, Consultant/Management/Business Counselors, and Retail-Apparel/Accessories firms account for 36.9 percent of all private establishments in 2008. Establishment Size • In 2008, 10,250 private business establishments (53 percent of the total) employed only one person. 77.7 percent of all establishments have five or less employees. The number of one-person private business establishments increased by 5,417 (112.1 percent) between 2005 and 2008. • Misc Business Services, Real Estate Agents, Consultant/Management/Business Counselors, and Retail-Apparel/Accessories firms account for 36.2 percent of all one-person private business establishments in 2008, and 40.4 percent of the growth of one-person firms between 2005 and 2008. Revenue • In 2008, total revenue for all 19,329 private establishments equaled $23.2 billion. • Total revenue increased by $6.2 billion (36.7 percent), unadjusted for inflation, between 2005 and 2008. • Restaurants, Misc Business Services, Real Estate Agents, Hotel/Motels and Consultant/Management/Business Counselors account for 27.4 percent of total revenue in 2008.
|
Number of Jobs __________________________________________________ Number of Establishments 
__________________________________________________Total Revenue ($Billion) |
John Reinhardt
www.InFrontMarketing.com 770.475.1130 Ext. 6806
Comments(0)