Download - July 2015 Business Scan
Los Angeles County Business Outlook
July 2015
Business ScanKyser Center for Economic Research
IndicatorMost Recent
Period
Current
Reading
Last Year's
Reading
YTY
Change
Unemployment Rate Jun-15 7.4% 8.1% -0.7%
Nonfarm Employment (# of jobs ) Jun-15 4,320,500 4,214,000 2.5%
Port Container Traffic (TEU's ) Jun-15 1,305,424 1,346,955 -3.1%
Goods Movement Employment Jun-15 384,900 372,500 3.3%
Airport Passenger Traffic (# of passengers ) May-15 6,919,124 6,670,525 3.7%
Technology Employment Jun-15 192,700 192,000 0.4%
Fashion Employment Jun-15 78,600 77,400 1.6%
Professional Services Employment Jun-15 315,700 311,900 1.2%
Finance and Insurance Employment Jun-15 132,700 132,800 -0.1%
Health Services Employment Jun-15 652,300 629,800 3.6%
Single Family Housing Construction Permits May-14 374 330 44
Multifamily Housing Construction Permits May-14 1,032 1,083 -51
Construction Employment Jun-15 128,300 120,300 6.7%
Industrial Vacancy Rates Q1-15 3.1% 4.1% -1.0%
Motion Picture & Sound Recording Employment Jun-15 114,500 113,300 1.1%
Tourism (Revenue Per Available Room ) Apr-15 $153.70 $144.94 6.0%
0%
2%
4%
6%
8%
10%
12%
14%
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep
-07
Fe
b-0
8
Ju
l-08
De
c-0
8
May-0
9
Oct-
09
Ma
r-10
Aug
-10
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep
-12
Fe
b-1
3
Ju
l-13
De
c-1
3
Ma
y-1
4
Oct-
14
Ma
r-15
Unemployment Rate Seasonally Adjusted, June 2015
Source: California EDD, Labor Market Information Division
7.4%
CA: 6.3%
US: 5.3%
2,600,000
2,800,000
3,000,000
3,200,000
3,400,000
3,600,000
3,800,000
4,000,000
4,200,000
4,400,000
4,600,000
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep
-07
Fe
b-0
8
Jul-08
De
c-0
8
Ma
y-0
9
Oct-
09
Ma
r-10
Aug
-10
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep
-12
Fe
b-1
3
Ju
l-13
De
c-1
3
May-1
4
Oct-
14
Ma
r-15
Nonfarm EmploymentNot Seasonally Adjusted, June 2015
Y/Y +2.5%
+106,500 jobs
Source: California EDD, Labor Market Information Division
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Ap
r-0
7
Sep-0
7
Fe
b-0
8
Ju
l-08
De
c-0
8
May-0
9
Oct-
09
Ma
r-10
Aug-1
0
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Ap
r-1
2
Sep-1
2
Fe
b-1
3
Ju
l-13
De
c-1
3
Ma
y-1
4
Oct-
14
Ma
r-15
Port Container Traffic –Los Angeles & Long BeachTon Equivalent Units (TEUs), June 2015 YTY: -3.1%
Sources: Port of Los Angeles, Port of Long Beach, LAEDC
Los Angeles: -2.0% YTY
Long Beach: -4.4% YTY
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Se
p-0
7
Fe
b-0
8
Jul-08
De
c-0
8
Ma
y-0
9
Oct-
09
Ma
r-10
Au
g-1
0
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Se
p-1
2
Fe
b-1
3
Ju
l-13
De
c-1
3
May-1
4
Oct-
14
Ma
r-15
Goods Movement Employment*Not Seasonally Adjusted, June 2015
Y/Y +3.3%
+12,400 jobs
Source: California EDD, Labor Market Information Division*NAICS Codes: 41-000000, 43-400089 (Transportation and Warehousing; Wholesale Trade)
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep
-07
Fe
b-0
8
Ju
l-08
Dec-0
8
Ma
y-0
9
Oct-
09
Ma
r-10
Aug
-10
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep
-12
Fe
b-1
3
Ju
l-13
De
c-1
3
Ma
y-1
4
Oct-
14
Ma
r-15
Airport Passenger Traffic --Burbank, Long Beach & Los Angeles
Passengers
Sources: Burbank Bob Hope Airport, Long Beach Airport, Los Angeles International Airport
May 2015Total Passengers: 6.9 million
Total Change: +3.7% YTY
Burbank: +2.1% YTY
Long Beach: -13.5% YTY
Los Angeles (LAX): +4.5% YTY
-
50,000
100,000
150,000
200,000
250,000
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep-0
7
Fe
b-0
8
Jul-
08
De
c-0
8
Ma
y-0
9
Oct-
09
Ma
r-10
Aug-1
0
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep-1
2
Fe
b-1
3
Ju
l-13
De
c-1
3
May-1
4
Oct-
14
Ma
r-15
Technology EmploymentNot Seasonally Adjusted, June 2015 Y/Y +0.4%
+700 jobs
Source: California EDD, Labor Market Information Division NAICS Codes: 31-334000, 31-336400, 32-325400, 50-518000, 60-541500, 60-541600, 60-541700
-
20,000
40,000
60,000
80,000
100,000
120,000
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep-0
7
Fe
b-0
8
Ju
l-08
Dec-0
8
Ma
y-0
9
Oct-
09
Ma
r-10
Aug-1
0
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep-1
2
Fe
b-1
3
Ju
l-13
De
c-1
3
Ma
y-1
4
Oct-
14
Ma
r-15
Fashion EmploymentNot Seasonally Adjusted, June 2015
Y/Y +1.6%
+1,200 jobs
Source: California EDD, Labor Market Information DivisionNAICS Codes: 32-315000, 41-424300, 32-313000
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep-0
7
Fe
b-0
8
Jul-08
De
c-0
8
Ma
y-0
9
Oct-
09
Ma
r-10
Aug-1
0
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep-1
2
Fe
b-1
3
Ju
l-13
De
c-1
3
May-1
4
Oct-
14
Ma
r-15
Professional Services EmploymentNot Seasonally Adjusted, June 2015 Y/Y +1.2%
+3,800 jobs
Source: California EDD, Labor Market Information DivisionNAICS Codes: 60-540000, 60-541500
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep
-07
Fe
b-0
8
Jul-08
De
c-0
8
Ma
y-0
9
Oct-
09
Ma
r-10
Aug
-10
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep
-12
Fe
b-1
3
Ju
l-13
De
c-1
3
May-1
4
Oct-
14
Ma
r-15
Finance and Insurance EmploymentNot Seasonally Adjusted, June 2015
Y/Y -0.1%
-100 jobs
Source: California EDD, Labor Market Information Division
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep-0
7
Fe
b-0
8
Jul-
08
De
c-0
8
Ma
y-0
9
Oct-
09
Ma
r-10
Aug-1
0
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep-1
2
Fe
b-1
3
Ju
l-13
De
c-1
3
May-1
4
Oct-
14
Ma
r-15
Health Services EmploymentNot Seasonally Adjusted, June 2015
Y/Y +3.6%
+22,500 jobs
Source: California EDD, Labor Market Information DivisionNAICS Codes: 32-325400, 60-620000
-
200
400
600
800
1,000
1,200
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep-0
7
Fe
b-0
8
Ju
l-08
De
c-0
8
May-0
9
Oct-
09
Ma
r-10
Aug-1
0
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep-1
2
Fe
b-1
3
Ju
l-13
Dec-1
3
Ma
y-1
4
Oct-
14
Ma
r-15
Single Family Housing Construction Permits
# of permits
Source: CIRB, California Home Building Foundation
May 2015
374 permits
-7.5% YTD
-
500
1,000
1,500
2,000
2,500
3,000
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep-0
7
Fe
b-0
8
Ju
l-08
De
c-0
8
Ma
y-0
9
Oct-
09
Mar-
10
Aug-1
0
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep-1
2
Fe
b-1
3
Ju
l-13
De
c-1
3
Ma
y-1
4
Oct-
14
Ma
r-15
Multi Family Housing Construction Permits
# of permits
Source: CIRB, California Home Building Foundation
May 2015
1,032 permits
+6.2% YTD
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep
-07
Fe
b-0
8
Jul-08
De
c-0
8
Ma
y-0
9
Oct-
09
Ma
r-10
Aug
-10
Ja
n-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep
-12
Fe
b-1
3
Ju
l-13
De
c-1
3
May-1
4
Oct-
14
Ma
r-15
Construction EmploymentNot Seasonally Adjusted, June 2015
Y/Y +6.7%
+8,000 jobs
Source: California EDD, Labor Market Information Division
0%
1%
2%
3%
4%
5%
6%
06Q
1
06Q
3
07Q
1
07Q
3
08Q
1
08Q
3
09Q
1
09Q
3
10Q
1
10Q
3
11
Q1
11
Q3
12Q
1
12Q
3
13Q
1
13Q
3
14Q
1
14Q
3
15Q
1
Industrial Vacancy Rates Q1 2015
Source: Cushman & Wakefield
3.1%
Central/DT: 2.8%
Mid-Cities: 3.3%
San Fernando Valley: 3.8%
South Bay: 3.3%
San Gabriel Valley: 2.3%
0%
5%
10%
15%
20%
25%
30%
1q09
2q09
3q09
4q09
1q10
2q10
3q10
4q10
1q11
2q11
3q11
4q11
1q12
2q12
3q12
4q12
1q13
2q13
3q13
4q13
1q14
2q14
3q14
4q14
1q15
Los Angeles County Orange County Inland Empire San Diego DTLA
% vacancy, quarterly averages
Source: Cushman and Wakefield
Office Vacancy Rates –SoCal Counties & Downtown LA
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
Ja
n-0
8
Ma
y-0
8
Sep
-08
Ja
n-0
9
Ma
y-0
9
Sep
-09
Ja
n-1
0
Ma
y-1
0
Sep
-10
Ja
n-1
1
Ma
y-1
1
Sep-1
1
Jan
-12
Ma
y-1
2
Sep
-12
Ja
n-1
3
Ma
y-1
3
Sep
-13
Ja
n-1
4
Ma
y-1
4
Sep
-14
Ja
n-1
5
Ma
y-1
5
L.A. County U.S.
Motion Picture & Sound Recording EmploymentNot Seasonally Adjusted, June 2015 (Year-to-year percent change)
L.A. County:
Y/Y +1.1%
+1,200 jobs
Source: California EDD, Labor Market Information Division
For data inquiries please contact: George Entis Research Analyst Kyser Center for Economic Research, LAEDC 444 S. Flower Street, 37
th Floor
Los Angeles, CA 90071 Tel: (213) 236-4820 Email: [email protected] For media inquiries please contact: Lawren Markle Director of Public Relations and Marketing Los Angeles County Economic Development Corporation 444 S. Flower Street, 37
th Floor
Los Angeles, CA 90071 Tel: (213) 236-4847 Email: [email protected]
$0.00
$20.00
$40.00
$60.00
$80.00
$100.00
$120.00
$140.00
$160.00
$180.00
$200.00
Ja
n-0
6
Ju
n-0
6
No
v-0
6
Apr-
07
Sep-0
7
Feb-0
8
Ju
l-08
De
c-0
8
Ma
y-0
9
Oct-
09
Ma
r-10
Aug-1
0
Jan-1
1
Ju
n-1
1
No
v-1
1
Apr-
12
Sep-1
2
Fe
b-1
3
Ju
l-13
De
c-1
3
Ma
y-1
4
Oct-
14
Ma
r-15
Revenue Per Available Room
Tourism
Source: PKF Consulting
April 2015
Occupancy Rate: 81.5%
Avg Daily Room Rate: $188.60
REVPAR: +3.8% YTY
