Econowatch L.A. County.

ECONOWATCH
L.A. COUNTY

GENERAL
INDICATORS                                 Latest      Previous
                                           period        period

Employment (000's) (Oct.) (1)             4,653.4       4,608.6
Unemployment (000's) (Oct.) (1)             204.0         232.9
Help-wanted ads index (June)                  8             7
Jobless-to-job ad ratio (June) (2)           28.3          31.1
Film Production Days (3rd qtr.)           9,930         7,853

Bankruptcies
Chapter 7 (Sept.)                           609           586
Chapter 11 (Sept.)                            7             9
Exports (mils.) (Sept.)                  $7,781.8      $7,622.7
Imports (mils.) (Sept.)                 $21,382.0     $20,990.9

Air cargo (5)
  LAX (Sept.)                                187.2         179.3
  Burbank (Sept.)                              9.7          10.2
Container volume (6) (000's)
  Long Beach (Sept.)                         614.7         675.1
  Los Angeles (Sept.)                        791.6         790.7
Los Angeles CPI (Oct.)                       211.4         212.9

Electricity Accounts (000's) (8)
  Residential (Oct.)                       1,240.8       1,240.7
  Commercial (Oct.)                          180.7         178.1
  Industrial (Oct.)                           13.6          13.8

GENERAL                                    %-from
INDICATORS                               previous          Year
                                           period           ago

Employment (000's) (Oct.) (1)                +1.0       4,630.5
Unemployment (000's) (Oct.) (1)             -12.4         232.6
Help-wanted ads index (June)                +14.3          14
Jobless-to-job ad ratio (June) (2)           -9.0          18.3
Film Production Days (3rd qtr.)             +26.4       9,262

Bankruptcies
Chapter 7 (Sept.)                            +3.9       4,600
Chapter 11 (Sept.)                          -22.2           8
Exports (mils.) (Sept.)                      +2.1      $6,522.6
Imports (mils.) (Sept.)                      +1.9     $19,906.8

Air cargo (5)
  LAX (Sept.)                                +4.4         168.6
  Burbank (Sept.)                            -4.9           9.2
Container volume (6) (000's)
  Long Beach (Sept.)                         -8.9         610.3
  Los Angeles (Sept.)                        +0.1         663.5
Los Angeles CPI (Oct.)                       -0.7         206.9

Electricity Accounts (000's) (8)
  Residential (Oct.)                         +0.0      1,235.2
  Commercial (Oct.)                          +1.5        180.9
  Industrial (Oct.)                          -1.4         13.9

GENERAL
INDICATORS                                %+ from
                                         year ago

Employment (000's) (Oct.) (1)                +0.5
Unemployment (000's) (Oct.) (1)             -12.3
Help-wanted ads index (June)                -42.9
Jobless-to-job ad ratio (June) (2)          +54.6
Film Production Days (3rd qtr.)              +7.2

Bankruptcies
Chapter 7 (Sept.)                           -86.8
Chapter 11 (Sept.)                          -12.5
Exports (mils.) (Sept.)                     +19.3
Imports (mils.) (Sept.)                      +7.4

Air cargo (5)
  LAX (Sept.)                               +11.0
  Burbank (Sept.)                            +5.4
Container volume (6) (000's)
  Long Beach (Sept.)                         +0.7
  Los Angeles (Sept.)                       +19.3
Los Angeles CPI (Oct.)                       +2.2

Electricity Accounts (000's) (8)
  Residential (Oct.)                         +0.5
  Commercial (Oct.)                          -0.1
  Industrial (Oct.)                          -2.2

REAL ESTATE                               Latest       Previous
                                          period        period

Construction lending (mils.) (Sept.)       $528.0        $690.1
Property acquisition lending             $5,328.4      $6,102.6
 (mils.)9 (Sept.)
Refinance lending (mils.) (Sept.)10     $12,247.8     $14,468.6
Foreclosures
  Number (Sept.)                            206           232
  Value (mils.) (Sept.)                     $88.6        $100.9
Building contracts (mils.)
  Residential (Sept.)                      $470.5        $352.9
  Nonresidential (Sept.)                   $553.4        $326.9
Building permits (mils.)
  Residential (Sept.)                      $486.0        $667.8
  Nonresidential (Sept.)                   $275.2        $334.6
Housing start permits (Sept.)             1,672         2,646
Home sales (Aug.)                         8,246         6,146
Home prices (000's) (Aug.)                 $550.0        $550.0
Condo sales (Aug.)                        1,933        $1,465.0
Condo prices (000's) (Aug.)                $415.0        $420.0
Apartments (3rd qtr.)
  Gross occupancy                            96.2%         95.7%
  Avg. sq. ft. rent                          $1.84         $1.80
  Avg. monthly rent                      $1,595        $1,559
Office vacancy rates (3rd qtr.)
  Downtown L.A.                              14.3%         14.0%
  San Fernando Valley                         6.0           6.1
  West L.A.                                   6.8           7.3
  South Bay                                  14.6          16.0
  Countywide                                  9.7          10.2
Industrial vacancy rates (3rd qtr.)
  Downtown/Central                            1.1%          1.3%
  South Bay                                   2.2           2.2
  San Gabriel Valley                          1.1           1.2

REAL ESTATE                                previous        Year
                                            period         ago

Construction lending (mils.) (Sept.)        -23.5       $715.3
Property acquisition lending                -12.7     $7,006.4
 (mils.)9 (Sept.)
Refinance lending (mils.) (Sept.)10         -15.3    $15,094.1
Foreclosures
  Number (Sept.)                            -11.2         81
  Value (mils.) (Sept.)                     -12.2        $29.9
Building contracts (mils.)
  Residential (Sept.)                       $33.3       $595.7
  Nonresidential (Sept.)                    $69.3       $409.8
Building permits (mils.)
  Residential (Sept.)                       -27.2       $650.0
  Nonresidential (Sept.)                    -17.8       $313.3
Housing start permits (Sept.)               -36.8      2,671
Home sales (Aug.)                           +34.2     12,107
Home prices (000's) (Aug.)                      0       $520.0
Condo sales (Aug.)                          +31.9      2,768.0
Condo prices (000's) (Aug.)                  -1.2       $400
Apartments (3rd qtr.)
  Gross occupancy                              NA         96.7%
  Avg. sq. ft. rent                          +2.2         $1.73
  Avg. monthly rent                          +2.3     $1,472
Office vacancy rates (3rd qtr.)
  Downtown L.A.                                NA         15.6%
  San Fernando Valley                          NA          7.8
  West L.A.                                    NA          9.8
  South Bay                                    NA         19.0
  Countywide                                   NA         12.2
Industrial vacancy rates (3rd qtr.)
  Downtown/Central                             NA          1.0%
  South Bay                                    NA          2.2
  San Gabriel Valley                           NA          1.2

REAL ESTATE                              %+ from
                                         year ago

Construction lending (mils.) (Sept.)        -26.2
Property acquisition lending                -24.0
 (mils.)9 (Sept.)
Refinance lending (mils.) (Sept.)10         -18.9
Foreclosures
  Number (Sept.)                           +154.3
  Value (mils.) (Sept.)                    +196.3
Building contracts (mils.)
  Residential (Sept.)                       -26.6
  Nonresidential (Sept.)                    +35.0
Building permits (mils.)
  Residential (Sept.)                       -25.2
  Nonresidential (Sept.)                    -12.2
Housing start permits (Sept.)               -37.4
Home sales (Aug.)                           -31.9
Home prices (000's) (Aug.)                   +5.8
Condo sales (Aug.)                          -30.2
Condo prices (000's) (Aug.)                  +3.8
Apartments (3rd qtr.)
  Gross occupancy                              NA
  Avg. sq. ft. rent                          +6.4
  Avg. monthly rent                          +8.4
Office vacancy rates (3rd qtr.)
  Downtown L.A.                                NA
  San Fernando Valley                          NA
  West L.A.                                    NA
  South Bay                                    NA
  Countywide                                   NA
Industrial vacancy rates (3rd qtr.)
  Downtown/Central                             NA
  South Bay                                    NA
  San Gabriel Valley                           NA

TOURISM
                                          Latest       Previous
                                          month         month

Hotel occupancy rate (Sept.)                 77.2%         82.9%
Room rate (Sept.)                          $142.64       $151.06
Passengers
  LAX (000's) (Sept.)                     4,707.9       5,743.1
  Burbank Airport (000's) (Sept.)           462.4         532.1

TOURISM                                     %+ from
                                           previous        Year
                                             month          ago

Hotel occupancy rate (Sept.)                   NA          78.9%
Room rate (Sept.)                             -5.6       $134.56
Passengers
  LAX (000's) (Sept.)                        -18.0      4,906.4
  Burbank Airport (000's) (Sept.)            -13.1        470.5

TOURISM
                                           %+from
                                          year ago

Hotel occupancy rate (Sept.)                   NA
Room rate (Sept.)                            +6.0%
Passengers
  LAX (000's) (Sept.)                        -4.0
  Burbank Airport (000's) (Sept.)            -1.7

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