Econowatch L.A. County.

ECONOWATCH

L.A. COUNTY

GENERAL                                                      %--from
INDICATORS                            Latest    Previous    previous
                                      period      period      period

Employment (000's) (Nov.) (1)         4,689.7     4,697.0      -0.2%
Unemployment (000's) (Nov.) (1)         241.5       215.9      +11.9
Help-wanted ads index (Nov.)             11.0           8      +37.5
Jobless-to-job ad ratio (Nov.) (2)       22.0        27.0      -18.5
Film Production Days (Oct) (1)          3,224       3,177       +1.5
Bankruptcies
Chapter 7 (Oct.)                      17142.0       5,934     +188.9
Chapter 11 (Oct.)                        19.0          11      +72.7
Exports (mils.) (Sept.)              $6,522.6    $7,001.0       -6.8
Imports (mils.) (Sept.)               19906.8   $18,462.2       +7.8
Air cargo5
  LAX (Sept.)                           167.5       171.9       -2.6
  Burbank (Sept.)                         4.6         4.6          0
Container volume6 (000's)
  Long Beach (Dec.)                     545.8       610.6      -10.6
  Los Angeles (Dec.)                    621.3       640.9       -3.1
Los Angeles CPI (Dec.)                  203.9       205.6       -0.8
Electricity Accounts (000's) (8)
  Residential (Oct.)                  1,700.4     1,687.5       +0.8
  Commercial (Oct.)                     243.4       236.1       +3.1
  Industrial (Oct.)                      20.4        20.7       -1.4

GENERAL
INDICATORS                               Year    %+ from
                                          ago    year ago

Employment (000's) (Nov.) (1)         4,559.3      +2.9%
Unemployment (000's) (Nov.) (1)         303.0      -20.3
Help-wanted ads index (Nov.)               15      -26.6
Jobless-to-job ad ratio (Nov.) (2)       20.2       +8.9
Film Production Days (Oct) (1)          3,263       -1.2
Bankruptcies
Chapter 7 (Oct.)                        2,483     +590.4
Chapter 11 (Oct.)                          19          0
Exports (mils.) (Sept.)              $5,793.5      +12.6
Imports (mils.) (Sept.)             $16,978.4      +17.2
Air cargo5
  LAX (Sept.)                           175.3       -4.4
  Burbank (Sept.)                         4.0        +15
Container volume6 (000's)
  Long Beach (Dec.)                     551.3       -1.0
  Los Angeles (Dec.)                    551.6      +12.6
Los Angeles CPI (Dec.)                  195.2       +4.5
Electricity Accounts (000's) (8)
  Residential (Oct.)                  1,695.9       +0.2
  Commercial (Oct.)                     242.0       +0.6
  Industrial (Oct.)                      20.8       -1.9

                                           Latest     Previous
REAL ESTATE                                period       period

Construction lending (mils.) (Oct.)        $497.7       $715.3
Property acquisition lending             $5,899.4     $7,006.4
  (mils.) (9) (Oct.)
Refinance lending (mils.) (Oct.) (10)   $11,932.8    $12,457.2
Foreclosures
  Number (Oct.)                              78.0           60
  Value (mils.) (Oct.)                      $29.1        $33.8
Building contracts (mils.)
  Residential (Sept.)                       581.2       $591.5
  Nonresidential (Sept.)                    430.2       $443.3
Building permits (mils.)
  Residential (Aug)                        $665.4       $521.3
  Nonresidential (Aug)                     $318.0       $248.9
Housing start permits (Aug)                 2,369       $2,045
Home sales (Aug.)                           8,648        7,948
Home prices (000's) (Aug.)                 $521.5         $515
Condo sales (Aug.)                         2282.0        2,041
Condo prices (000's) (Aug.)                  $401         $398
Apartments (4th qtr.)
Gross occupancy                             97.2%        97.8%
  Avg. sq. ft. rent                         $1.68        $1.63
  Avg. monthly rent                        $1,416       $1,394
Office vacancy rates (4th qtr.)
  Downtown L.A                              14.9%        15.6%
  San Fernando Valley                         7.0          7.8
  West L.A.                                   9.1          9.9
  South Bay                                  18.2         19.0
  Countywide                                 11.4         12.2
Industrial vacancy rates (4th qtr.)
  Downtown/Central                           1.3%         1.0%
  South Bay                                   2.8          2.2
  San Gabriel Valley                          1.6          1.2

TOURISM                                   Latest     Previous
                                           month        month

Hotel occupancy rate (Nov.)                 74.3%        77.9%
Room rate (Nov.)                           $127.7      $129.39
Passengers
  LAX (000's) (Nov.)                      4,790.6      4,984.2
  Burbank Airport (000's) (Nov.)            482.4        485.7

                                        % + from                %+ from
                                        previous         Year   year
REAL ESTATE                               period          ago   ago

Construction lending (mils.) (Oct.)       -30.4%       $470.9   +5.7%
Property acquisition lending              -15.8      $5,081.4   +16.1
  (mils.) (9) (Oct.)
Refinance lending (mils.) (Oct.) (10)      -4.2     $10,858.8    +9.9
Foreclosures
  Number (Oct.)                             +30            88   -11.4
  Value (mils.) (Oct.)                    -13.9         $24.7   +17.8
Building contracts (mils.)
  Residential (Sept.)                      -1.7        $480.1   +21.1
  Nonresidential (Sept.)                     -3        $227.3   +89.3
Building permits (mils.)
  Residential (Aug)                       -27.6        $370.5   -14.2
  Nonresidential (Aug)                    +15.8        $1,898   +24.8
Housing start permits (Aug)               -20.5         1,794    +6.7
Home sales (Aug.)                          +8.8         7,221   +19.8
Home prices (000's) (Aug.)                 +1.3          $430   +21.3
Condo sales (Aug.)                         11.8         2,088    +9.3
Condo prices (000's) (Aug.)                +0.8        $332.5   +20.6
Apartments (4th qtr.)
Gross occupancy                              NA         96.8%      NA
  Avg. sq. ft. rent                        +3.1     $1,551.55    +8.4
  Avg. monthly rent                        +1.6        $1,301    +8.8
Office vacancy rates (4th qtr.)
  Downtown L.A                               NA         19.1%      NA
  San Fernando Valley                        NA           8.9      NA
  West L.A.                                  NA          14.6      NA
  South Bay                                  NA          20.6      NA
  Countywide                                 NA          14.8      NA
Industrial vacancy rates (4th qtr.)
  Downtown/Central                           NA          1.2%      NA
  South Bay                                  NA           2.6      NA
  San Gabriel Valley                         NA           1.2      NA

                                        %+ from                 %+ from
TOURISM                                previous          Year   year
                                          month           ago   ago

Hotel occupancy rate (Nov.)               -4.6%         71.2%   +4.3%
Room rate (Nov.)                          -1.3         $119.4    +7.0
Passengers
  LAX (000's) (Nov.)                      -3.9        4,781.1    +0.2
  Burbank Airport (000's) (Nov.)          -0.7          406.9   +18.6

FOOTNOTES

(1.) Not seasonally adjusted.

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

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

(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 and 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 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).

Aarthi Sivaraman