Econowatch L.A. County.
ECONOWATCH
L.A. COUNTY
GENERAL
INDICATORS
Latest Previous
period period
Employment (000's) (Nov.) (1) 4,689.7 4,697.0
Unemployment (000's) (Nov.) (1) 241.50 215.90
Help-wanted ads index (Nov.) 11 8
Jobless-to-job ad ratio (Nov.) (2) 22.0 27.0
Film Production Days (Oct) (3) 3,224 3,177
Bankruptcies
Chapter 7 (Oct.) 17,142 5,934
Chapter 11 (Oct.) 19 11
Exports (mils.) (Sept.) $6,522.6 $7,001.0
Imports (mils.) (sept.) $19,906.8 $18,462.2
Air cargo (5)
LAX (Sept.) 167.5 171.9
Burbank (Sept.) 4.6 4.6
Container volume6 (000's)
Long Beach (Dec.) 545.8 610.6
Los Angeles (Dec.) 621.3 640.9
Los Angeles CPI (Dec.) 203.9 205.6
Electricity Accounts (000's) (8)
Residential (Oct.)# 1,701.8# 1,686.2#
Commercial (Oct.)# 183.1# 180.1#
Industrial (Oct.)# 20.2# 20.4#
% - from
previous Year
period ago
Employment (000's) (Nov.) (1) -0.2% 4,559.3
Unemployment (000's) (Nov.) (1) +11.9 303.0
Help-wanted ads index (Nov.) +37.5 15
Jobless-to-job ad ratio (Nov.) (2) -18.5 20.2
Film Production Days (Oct) (3) +1.5 3,263
Bankruptcies
Chapter 7 (Oct.) +188.9 2,483
Chapter 11 (Oct.) +72.7 19
Exports (mils.) (Sept.) -6.8 $5,793.5
Imports (mils.) (Sept.) +7.8 $16,978.4
Air cargo (5)
LAX (Sept.) -2.6 175.3
Burbank (Sept.) 0 4.0
Container volume6 (000's)
Long Beach (Dec.) -10.6 551.3
Los Angeles (Dec.) -3.1 551.6
Los Angeles CPI (Dec.) -0.8 195.2
Electricity Accounts (000's) (8)
Residential (Oct.)# +0.9# 1,688.9#
Commercial (Oct.)# +1.7# 164.9#
Industrial (Oct.)# -1.0# 20.7#
% + from
year ago
Employment (000's) (Nov.) (1) 2.9%
Unemployment (000's) (Nov.) (1) -20.3
Help-wanted ads index (Nov.) -26.6
Jobless-to-job ad ratio (Nov.) (2) +8.9
Film Production Days (Oct) (3) -1.2
Bankruptcies
Chapter 7 (Oct.) +590.4
Chapter 11 (Oct.) 0
Exports (mils.) (Sept.) +12.6
Imports (mils.) (Sept.) +17.2
Air cargo (5)
LAX (Sept.) -4.4
Burbank (Sept.) +15
Container volume6 (000's)
Long Beach (Dec.) -1.0
Los Angeles (Dec.) +12.6
Los Angeles CPI (Dec.) +4.5
Electricity Accounts (000's) (8)
Residential (Oct.)# +0.8#
Commercial (Oct.)# +11.0#
Industrial (Oct.)# -2.4#
REAL ESTATE
Latest Previous
period period
Construction lending (mils.) (Oct.) $497.7 $715.3
Property acquisition lending (mils.) (9)
(Oct.) $5,899.4 $7,006.4
Refinance lending (mils.) (Oct.) (10) $11,932.8 $12,457.2
Foreclosures
Number (Oct.) 78 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.) 2,282 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
% + from
previous Year
period ago
Construction lending (mils.) (Oct.) -30.4% $470.9
Property acquisition lending (mils.) (9)
(Oct.) -15.8 $5,081.4
Refinance lending (mils.) (Oct.) (10) -4.2 $10,858.8
Foreclosures
Number (Oct.) +30 88
Value (mils.) (Oct.) -13.9 $24.7
Building contracts (mils.)
Residential (Sept.) -1.7 $480.1
Nonresidential (Sept.) -3 $227.3
Building permits (mils.)
Residential (Aug) -27.6 $370.5
Nonresidential (Aug) +15.8 $1,898
Housing start permits (Aug) -20.5 1,794
Home sales (Aug.) +8.8 7,221
Home prices (000's) (Aug.) +1.3 $430
Condo sales (Aug.) +11.8 2,088
Condo prices (000's) (Aug.) +0.8 $332.5
Apartments (4th qtr.)
Gross occupancy NA 96.8%
Avg. sq. ft. rent +3.1 $1.55
Avg. monthly rent +1.6 $1,301
Office vacancy rates (4th qtr.)
Downtown L.A. NA 19.1%
San Fernando Valley NA 8.9
West L.A. NA 14.6
South Bay NA 20.6
Countywide NA 14.8
Industrial vacancy rates (4th qtr.)
Downtown/Central NA 1.2%
South Bay NA 2.6
San Gabriel Valley NA 1.2
% + from
year ago
Construction lending (mils.) (Oct.) +5.7%
Property acquisition lending (mils.) (9)
(Oct.) +16.1
Refinance lending (mils.) (Oct.) (10) +9.9
Foreclosures
Number (Oct.) -11.4
Value (mils.) (Oct.) +17.8
Building contracts (mils.)
Residential (Sept.) +21.1
Nonresidential (Sept.) +89.3
Building permits (mils.)
Residential (Aug) -14.2
Nonresidential (Aug) +24.8
Housing start permits (Aug) +6.7
Home sales (Aug.) +19.8
Home prices (000's) (Aug.) +21.3
Condo sales (Aug.) +9.3
Condo prices (000's) (Aug.) +20.6
Apartments (4th qtr.)
Gross occupancy NA
Avg. sq. ft. rent +8.4
Avg. monthly rent +8.8
Office vacancy rates (4th qtr.)
Downtown L.A. NA
San Fernando Valley NA
West L.A. NA
South Bay NA
Countywide NA
Industrial vacancy rates (4th qtr.)
Downtown/Central NA
South Bay NA
San Gabriel Valley NA
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
previous Year
month ago
Hotel occupancy rate (Nov.) -4.6% 71.2%
Room rate (Nov.) -1.3 $119.4
Passengers
LAX (000's) (Nov.) -3.9 4,781.1
Burbank Airport (000's) (Nov.) -0.7 406.9
% + from
year ago
Hotel occupancy rate (Nov.) +4.3%
Room rate (Nov.) +7.0
Passengers
LAX (000's) (Nov.) +0.2
Burbank Airport (000's) (Nov.) +18.6
Note: Values with # indicates updated figures.
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 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).
--Aarthi Sivaraman
COPYRIGHT 2006 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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