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)              241.5        215.9
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 (Dec.)                               210          111
Chapter 11 (Dec.)                                9           37
Exports (mils.) (Sept.)                   $6,522.6     $7,001.0
Imports (mils.) (Sept.)                  $19,906.8    $18,462.2
Air cargo5
  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 (Dec.)                           +89.1        2,304
Chapter 11 (Dec.)                          -75.7           14
Exports (mils.) (Sept.)                     -6.8     $5,793.5
Imports (mils.) (Sept.)                     +7.8    $16,978.4
Air cargo5
  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 (Dec.)                            -90.9
Chapter 11 (Dec.)                           -35.7
Exports (mils.) (Sept.)                     +12.6
Imports (mils.) (Sept.)                     +17.2
Air cargo5
  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 (Dec.)#                       $560.6#       $565.4#
  Nonresidential (Dec.)#                    $304.2#       $326.6#
Housing start permits (Dec.)#                2,114#        2,325#
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 (Dec.)#                        -0.9#       $567.2#
  Nonresidential (Dec.)#                     -6.9#       $276.9#
Housing start permits (Dec.)#                -7.9#        3,103#
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 (Dec.)#                        -1.2#
  Nonresidential (Dec.)#                     +9.9#
Housing start permits (Dec.)#               -30.9#
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

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 LA. 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

Note: # indicates updated figures.

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 inclustrial vacancy rates); PKF Consulting (hotel
occupancy rate, room rate).

--Aarthi Sivaraman