Arlington • Virginia • USA			Economic Indicators

JULY 2002

AT PLACE EMPLOYMENT

At Place Employment *	Reporting Period	Current	Last Period	Last Year	Annual Change
Employees Establishments Gross Wages (thousands)	4th Q 2001 4th Q 2001 4th Q 2001	156,170 6,556 $2,315,309	159,162 6,510 $2,113,058	161,348 6,459 $2,274,404	3.2% 1.5% 1.8%

Source: Virginia Employment Commission   *data excludes enlisted military personnel

LABOR FORCE

Labor Force*	Reporting Period	Current	Last Period	Last Year	Annual Change
Civilian Labor Force Arlington County Northern Virginia Unemployment Rate Arlington County Northern Virginia	~ May 2002 May 2002 ~ May 2002 May 2002	~ 116,391 1,278,935 ~ 2.6% 3.1%	~ 116,168 1,272,727 ~ 2.9% 3.1%	~ 114,188 1,249,334 ~ 1.9% 2.0%	~ 1.9% 2.4% ~ 0.7 pp 1.1 pp

Source: Virginia Employment Commission   *readjusted monthly   pp = percentage points

OFFICE ABSORPTION

Net Office Absorption*	Reporting Period	Current	Year-to-Date	Last Year-to-Date	Annual Change
Arlington Northern Virginia	2nd Q 2002 2nd Q 2002	323,657 405,110	873,735 722,273	-990,048 -3,201,050	1,864,683 3,923,323

Source: Cassidy & Pinkard   * includes sublet

VACANCY RATES

Total Office Vacancy Rate*	Reporting Period	Current	Last Period	Last Year	Annual Change
Arlington Rosslyn Clarendon/Courthouse Ballston Virginia Square Crystal City Northern Virginia	2nd  Q 2002 2nd  Q 2002 2nd  Q 2002 2nd  Q 2002 2nd  Q 2002 2nd  Q 2002 2nd  Q 2002	8.2% 9.9% 8.2% 14.3% 6.8% 4.5% 15.9%	9.1% 12.2% 9.3% 12.7% 8.8% 5.8% 15.4%	7.9% 5.8% 7.2% 4.5% 8.6% 12.3% 9.8%	0.3 pp 4.1 pp 1.0 pp 9.8 pp 1.8 pp 7.8 pp 6.1 pp

Source: CoStar Group, Inc.   pp=percentage points

HOUSING SALES

Housing Sales*	Reporting Period	Current	Year-to-Date	Last Year-to-Date	Annual Change
Single Family Detached Single Family Attached Condominium	May 2002 May 2002 May 2002	144 52 156	562 170 575	508 126 544	10.6% 34.9% 5.7%

Source: Arlington Real Estate Assessments   *readusted monthly

HOUSING PRICES

Average Housing Prices*	Reporting Period	Current	Last Period	Last Year	Annual Change
Single Family Detached Single Family Attached Condominium	May 2002 May 2002 May 2002	$439,628 $383,640 $197,788	$443,896 $388,513 $196,472	$391,289 $321,015 $159,777	12.4% 19.5% 23.8%

Source: Real Estate Assessments   *readjusted monthly

TOURISM

Tourism	Reporting Period	Current	Year-to-Date	Last Year-to-Date	Annual Change
Lodging Sales Receipts Hotel Occupancy Average Daily Room Rate	May 2002 May 2002 May 2002	$29,248,022 79.6% $129.20	$115,999,550 71.1% $121.87	$130,451,696 74.7% $126.43	11.1% 3.6 pp $4.56

Source: Arlington County Commissioner of Revenue and Smith Travel Research   pp=percentage points

CONSUMER PRICE INDEX

Consumer Price Index (CPI-U All Items)	Reporting Period	Current	Last Period	Last Year	Annual Change
Washington - Baltimore DC/MD/VA/WV	May 2002	112.8	111.9	110.1	2.5%

Source: US Bureau of Labor Statistics

RETAIL SALES

Taxable Retail Sales	Reporting Period	Current	Last Period	Last Year	Annual Change
Arlington	1st Q 2002	$502,126,443	$612,414,609	$526,078,697	4.6%

Source: Virginia Department of Taxation

AIR TRANSPORTATION

Ronald Reagan Washington National Airport	Reporting Period	Current	Last Period	Last Year	Annual Change
Total Aircraft Operations Total Passengers	May 2002 May 2002	18,311 1,178,548	17,491 1,132,137	27,767 1,524,251	34.1% 22.7%

Source: Metropolitan Washington Airports Authority

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