Econowatch L.A. County.

ECONOWATCH
L.A. COUNTY

GENERAL
INDICATORS

                                                                % -from
                                          Latest    Previous   previous
                                          period      period     period

Employment (000's) (July) (1)            4,634.8     4,630.2       +0.1
Unemployment (000's) (July) (1)            247.3       226.2       +9.3
Help-wanted ads index (June)                   8           7      +14.3
Jobless-to-job ad ratio (June) (2)          28.3        31.1       -9.0
Film Production Days (2nd qtr.)            7,853       9,278      -15.4

Bankruptcies
Chapter 7 (Aug.)                             586         523      +12.0
Chapter 11 (Aug.)                              9           3     +200
Exports (mils.) (June)                  $7,716.4    $7,519.5       +2.6
Imports (mils.) (June)                 $20,700.3   $19,412.1       +6.6

Air cargo (5)
  LAX (Aug.)                               179.3       173.4       +3.4
  Burbank (Aug.)                            10.2         7.2      +41.7
Container volumes (000's)
  Long Beach (Aug.)                        675.1       582.9      +15.8
  Los Angeles (Aug.)                       790.7       761.3       +3.9
Los Angeles CPI (Aug.)                     211.9       211.4       +0.2

Electricity Accounts (000's) (8)
  Residential (July)                     1,243.1     1,241.4      +0.14
  Commercial (July)                        178.1       182.5      -2.4
  Industrial (July)                         13.8        13.9      -0.7

                                           Year     %+ from
                                            ago    year ago

Employment (000's) (July) (1)            4,560.0       +1.6
Unemployment (000's) (July) (1)            272.7       -9.3
Help-wanted ads index (June)                  14      -42.9
Jobless-to-job ad ratio (June) (2)          18.3      +54.6
Film Production Days (2nd qtr.)            8,426       -6.8

Bankruptcies
Chapter 7 (Aug.)                           2,770      -78.8
Chapter 11 (Aug.)                              9       +0.0
Exports (mils.) (June)                  $6,597.2      +17.0
Imports (mils.) (June)                 $18,567.8      +11.5

Air cargo (5)
  LAX (Aug.)                               172.4       +4.0
  Burbank (Aug.)                             9.2      +10.9
Container volumes (000's)
  Long Beach (Aug.)                        615.1       +9.8
  Los Angeles (Aug.)                       651.6      +21.3
Los Angeles CPI (Aug.)                     203.1       +4.3

Electricity Accounts (000's) (8)
  Residential (July)                     1,238.0       +0.4
  Commercial (July)                        177.8       +0.2
  Industrial (July)                         14.1       -2.1

REAL ESTATE
                                                                % -from
                                         Latest    Previous    previous
                                         period      period      period

Construction lending (mils.) (July)       $479.0      $823.0      -41.8
Property acquisition lending            $5,454.3    $6,630.7      -17.7
  (mils.) (9) (July)
Refinance lending (mils.)              $11,958.2   $14,451.8      -17.3
  (July) (10)

Foreclosures
  Number (July)                              168         128      +31.3
  Value (mils.) (July)                     $68.9       $46.1      +49.5
Building contracts (mils.)
  Residential (July)                      $296.8      $541.0      -45.1
  Nonresidential (July)                   $461.1      $479.3       -3.8
Building permits (mils.)
  Residential (July)                      $492.6      $664.0      -25.8
  Nonresidential (July)                   $240.5      $305.9      -21.4
Housing start permits (July)               1,616       2,650      -39.0
Home sales (Aug.)                          8,246       6,146      +34.2
Home prices (000's) (Aug.)                $550.0      $550.0        0
Condo sales (Aug.)                         1,933     1,465.0      +31.9
Condo prices (000's) (Aug.)               $415.0      $420.0       -1.2
Apartments (2nd qtr.)
  Gross occupancy                          95.7%       97.5%         NA
  Avg. sq. ft. rent                        $1.80       $1.69       +6.5
  Avg. monthly rent                       $1,559      $1,420       +9.8
Office vacancy rates (2nd qtr.)
  Downtown L.A.                            14.0%       15.0%         NA
  San Fernando Valley                       6.1         7.0          NA
  West L.A.                                 7.3         9.4          NA
  South Bay                                16.0        16.1          NA
  Countywide                               10.2        11.0          NA
Industrial vacancy, rates (2nd qtr.)
  Downtown/Central                          1.3%        1.4%         NA
  South Bay                                 2.2         2.5          NA
  San Gabriel Valley                        1.5         1.9          NA

                                           Year    %+ from
                                            ago    year ago

Construction lending (mils.) (July)       $701.0      -31.7
Property acquisition lending            $6,705.9      -18.7
  (mils.) (9) (July)
Refinance lending (mils.)              $14,589.3      -18.0
  (July) (10)

Foreclosures
  Number (July)                               60     +180.0
  Value (mils.) (July)                     $26.1     +164.0
Building contracts (mils.)
  Residential (July)                      $394.9      -24.8
  Nonresidential (July)                   $385.0      +19.8
Building permits (mils.)
  Residential (July)                      $521.2       -5.5
  Nonresidential (July)                   $250.2       -3.9
Housing start permits (July)               2,043      -20.9
Home sales (Aug.)                         12,107      -31.9
Home prices (000's) (Aug.)                $520.0       +5.8
Condo sales (Aug.)                       2,768.0      -30.2
Condo prices (000's) (Aug.)               $400.0       +3.8
Apartments (2nd qtr.)
  Gross occupancy                          95.5%         NA
  Avg. sq. ft. rent                        $1.73       +4.0
  Avg. monthly rent                       $1,457       +7.0
Office vacancy rates (2nd qtr.)
  Downtown L.A.                            15.9%         NA
  San Fernando Valley                       8.1          NA
  West L.A.                                16.4          NA
  South Bay                                20.1          NA
  Countywide                               12.9          NA
Industrial vacancy, rates (2nd qtr.)
  Downtown/Central                          1.0%         NA
  South Bay                                 2.2          NA
  San Gabriel Valley                        1.2          NA

TOURISM

                                                                % -from
                                         Latest    Previous    previous
                                          month       month       month

Hotel occupancy rate (Aug.)                82.9%       82.1%        NA
Room rate (Aug.)                         $151.06     $144.97      +4.2
Passengers
  LAX (000's) (Aug.)                       5,743       5,920      -3.0
  Burbank Airport (000's) (Aug.)           532.1       505.7      -5.2

                                           Year    %+ from
                                            ago    year ago

Hotel occupancy rate (Aug.)                84.1%         NA
Room rate (Aug.)                         $136.24      10.9%
Passengers
  LAX (000's) (Aug.)                     5,888.0       -2.5
  Burbank Airport (000's) (Aug.)           521.2       +2.1

FOOTNOTES

(1.) Not seasonally adjusted.

(2.) Thousands of jobless to index point of job ads.

(3.) Music, television, film and commercials quarterly.

(4.) Through Los Angeles Customs District.

(5.) In thousands of tons.

(6.) 20-foot equivalent unit.

(7.) 1982-1984 = 100.

(8.) Metropolitan L.A. and San Fernando Valley

(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).

-Jade Takahashi