Econo Watch L.A. County.
ECONO WATCH L.A. COUNTY
GENERAL INDICATORS
% - from
Latest Previous previous
period period period
Employment (000's) (Oct.) (1) 4,603 4,551 +1.1%
Unemployment (000's) (Oct.) 297 317 -6.3
Help-wanted ads index (Sept.) 21 20 +5.0
Jobless-to-job ad ratio (Sept.) (2) 46 47 -1.9
Film permits (Jan.) (3) 2,142 1,957 +1.1
Bankruptcies
Chapter 7 (Dec.) 3,330 3,179 +4.7
Chapter 11 (Dec.) 16 21 -23
Exports (mils.) (Oct.) (4) $4,887.4 $5,169.7 -5.5
Imports (mils.) (Oct.) (4) $12,758.1 $13,556.6 -5.9
Air cargo (5)
LAX (Oct.) 202.7 159.6 +27
Burbank (Sept) 3.3 4.3 -23
Container volume (6) (000's)
Long Beach (Oct.) 301.3 340.3 -11.4
Los Angeles (Oct.) 470.9 589.2 -20
Los Angeles CPI (Oct.) (7) 183.7 183.4 +0.1
Electricity Accounts (000's) (8)
Residential (Oct.) 1,219 1,220.1 -0.9
Commercial (Oct.) 177.5 174.1 +1.9
Industrial (Oct.) 15 15.1 -0.6
Year %+ from
ago year ago
Employment (000's) (Oct.) (1) 4,604 -0.2%
Unemployment (000's) (Oct.) 302 -1.7
Help-wanted ads index (Sept.) 24 -12.5
Jobless-to-job ad ratio (Sept.) (2) 67 -31.4
Film permits (Jan.) (3) 1,986 +7.8
Bankruptcies
Chapter 7 (Dec.) 3,313 +0.5
Chapter 11 (Dec.) 31 -48
Exports (mils.) (Oct.) (4) $5,688.8 -14.1
Imports (mils.) (Oct.) (4) $13,778.7 -7.5
Air cargo (5)
LAX (Oct.) 167.6 +20
Burbank (Sept) 2.3 +43
Container volume (6) (000's)
Long Beach (Oct.) 434.8 -30
Los Angeles (Oct.) 505 -6.7
Los Angeles CPI (Oct.) (7) 178.1 +3
Electricity Accounts (000's) (8)
Residential (Oct.) 1,213.8 +0.4
Commercial (Oct.) 177.4 +.05
Industrial (Oct.) 15.3 -1.9
REAL ESTATE
Latest Previous
period period
Construction lending (mils.) (Sept.) $322.8 $329.5
Property acquisition lending (mils.) (9) (Sept.) $3,068 $3,887.1
Refinance lending (mils.) (Sept.) (10) $11,093 $10,666
Foreclosures
Number (Dec.) 373 391
Value (mils.) (Dec.) $71 $63
Building contracts (mils.)
Residential (Dec.) $185.4 $146.7
Nonresidential (Dec.) $160.8 $286.4
Building permits (mils.)
Residential (Dec.) $274.1 $363
Nonresidential (Dec.) $180.1 $229.3
Housing start permits (May) 1,317 1,047
Home sales (Dec.) 6,558 5,901
Home prices (000's) (Dec.) $295 $299
Condo sales (Dec.) 1,796 1,630
Condo prices (000's) (Dec.) $225 $224
Apartments (2nd qtr.)
Gross occupancy 96.9% 96.0%
Avg. sq. ft. rent $1.41 $1.39
Avg. monthly rent $1,190 $1,172
Office vacancy rates (4th qtr.) (11)
Downtown L.A 19.6% 18.5%
San Fernando Valley 15.3% 15.3%
West LA 15.8% 15.4%
South Bay 18.9% 19.5%
Countywide 16.7% 16.5%
Industrial vacancy rates (4th qtr.) (11)
Downtown/Central 2.5% 2.7%
South Bay 4.5% 4.6%
San Gabriel Valley 2.7% 2.4%
% + from
previous Year
period ago
Construction lending (mils.) (Sept.) -2% $233.1
Property acquisition lending (mils.) (9) (Sept.) -21 $2,536.8
Refinance lending (mils.) (Sept.) (10) +4 $5,156
Foreclosures
Number (Dec.) -4.6 682
Value (mils.) (Dec.) +12.6 $123
Building contracts (mils.)
Residential (Dec.) +26.3 $364.6
Nonresidential (Dec.) -26.6 $331.0
Building permits (mils.)
Residential (Dec.) -24.4 $296.9
Nonresidential (Dec.) -21.4 $265.8
Housing start permits (May) +25.7 1,527
Home sales (Dec.) +11.1 5,486
Home prices (000's) (Dec.) -1.3 $248
Condo sales (Dec.) +10.1 1,591
Condo prices (000's) (Dec.) +0.4 $178
Apartments (2nd qtr.)
Gross occupancy NA 97.7%
Avg. sq. ft. rent +1.4 $1.37
Avg. monthly rent +1.5 $1,130
Office vacancy rates (4th qtr.) (11)
Downtown L.A NA 17.8%
San Fernando Valley NA 15.5%
West LA NA 13.6%
South Bay NA 16.9%
Countywide NA 15.0%
Industrial vacancy rates (4th qtr.) (11)
Downtown/Central NA 2.6%
South Bay NA 4.5%
San Gabriel Valley NA 3.5%
%+ from
year ago
Construction lending (mils.) (Sept.) +38%
Property acquisition lending (mils.) (9) (Sept.) +21
Refinance lending (mils.) (Sept.) (10) +115
Foreclosures
Number (Dec.) -45
Value (mils.) (Dec.) -42
Building contracts (mils.)
Residential (Dec.) -49.2
Nonresidential (Dec.) -51.4
Building permits (mils.)
Residential (Dec.) -7.6
Nonresidential (Dec.) -32.2
Housing start permits (May) -13.8
Home sales (Dec.) +19.5
Home prices (000's) (Dec.) +19
Condo sales (Dec.) +12.8
Condo prices (000's) (Dec.) +26.4
Apartments (2nd qtr.)
Gross occupancy NA
Avg. sq. ft. rent +2.9
Avg. monthly rent +5.3
Office vacancy rates (4th qtr.) (11)
Downtown L.A NA
San Fernando Valley NA
West LA NA
South Bay NA
Countywide NA
Industrial vacancy rates (4th qtr.) (11)
Downtown/Central NA
South Bay NA
San Gabriel Valley NA
TOURISM
Latest Previous
period period
Hotel occupancy rate (Nov.) 64.9% 69.7%
Room rate (Nov.) $109.69 $115.81
Passengers
LAX (000's) (Oct.) 4,539 4,266
Burbank Airport (000's) (Oct.) 396 377.8
% + from
previous Year
period ago
Hotel occupancy rate (Nov.) -6.9 57.1%
Room rate (Nov.) -5.3% $111.37
Passengers
LAX (000's) (Oct.) +6.4% 3,935
Burbank Airport (000's) (Oct.) -4.8% 347.1
%+ from
year ago
Hotel occupancy rate (Nov.) +13.6%
Room rate (Nov.) -1.5%
Passengers
LAX (000's) (Oct.) +15.3
Burbank Airport (000's) (Oct.) +14
FOOTNOTES
(1.) Not seasonally adjusted.
(2.) Thousands of jobless to index point of job ads.
(3.) Film production days.
(4.) Through Los Angeles Customs District.
(5.) In thousands of tons.
(6.) 20-foot equivalent unit.
(7.) 1982-1984=100.
(8.) San Fernando valley and metropolitan L.A. combined.
(9.) Apartment and residential combined.
(10.) Includes refinancings, second mortgages and equity mortgages.
(11.) Based on a survey by Grubb & Ellis Co. Excludes available sublease
space NA means not applicable
BOLDFACE INDICATES UPDATED FIGURES
Sources:California State Employment Development Department (employment
figures); The Conference Board. N.Y. (help-wanted ad index);
Entertainment Industry Development Corporation Los Angeles Film Office
(film permits); U.S. Bankruptcy Court, Central District of Calif., Los
Angeles (bankruptcies); Dun & Bradstreet (business failures): Economic
Development Corporation, Los Angeles (exports, imports); City of Los
Angeles Airport Department (LAX passenger traffic and air cargo);
Burbank-Glendale-Pasadena Airport Authority (Burbank passenger traffic
and air cargo); Bureau of Labor Statistics, Los Angeles (Los Angeles
consumer price index); Office of Economic Research at California State
University, Long Beach (index of leading indicators); First American
Real Estate Solutions, Anaheim (construction lending, property lending,
refinance lending, foreclosures, home sales, home prices, home prices
per square foot, condo sales, condo prices); F.W. Dodge Division,
McGraw-Hill (building contracts); Construction Industry Research Board
(housing start permits, building permits); M/PF Research Inc.
(apartments); Grubb & Ellis (office and industrial vacancy rates); PKF
Consulting (hotel occupancy rate, room rate).
Koula Gianulias
COPYRIGHT 2003 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
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