Arlington, Virginia - News & Data


Arlington • Virginia • *USA*			Economic Indicators

JUNE 2002

This edition of Economic Indicators presents the most current data available. The reporting period varies due to the time-lag in data availability by primary data sources. Starting with this issue, Office Absorption and Vacancy statistics will be based on quarterly data provided by Cassidy & Pinkard.

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

~
Apr 2002
Apr 2002
~
Apr 2002
Apr 2002
~
115,856
1,270,629
~
2.7%
3.0%

~
116,064
1,270,709
~
3.0%
3.1%
~
113,481
1,240,891
~
1.5%
1.5%
~
2.1%
2.4%
~
1.2 pp
1.5 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

1st Q 2002
1st Q 2002 550,078
317,163
550,078
317,163

-476,433
-2,199,025
1,026,511
2,516,188

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
1st Q 2002
1st Q 2002
1st Q 2002
1st Q 2002
1st Q 2002
1st Q 2002
1st Q 2002
9.1%
12.2%
9.3%
12.7%
8.8%
5.8%
15.4%
9.2%
13.3%
8.4%
10.8%
10.1%
6.8%
14.3%
5.0%
4.5%
3.8%
3.3%
2.1%
7.6%
7.3%
4.1 pp
7.7 pp
5.5 pp
9.4 pp
6.7 pp
1.8 pp
8.1 pp

Source: Cassidy & Pinkard *includes sublet 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

Apr 2002
Apr 2002
Apr 2002 121
44
130
418
116
419

381
93
400
9.7%
24.7%
4.8%

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

Apr 2002
Apr 2002
Apr 2002
$443,532
$384,752
$196,472
$442,215
$429,203
$190,121 $383,365
$295,910
$171,402 15.7% 30.0% 14.6%

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

Apr 2002
Apr 2002
Apr 2002
$28,865,841
84.5%
$129.67
$86,751,529
68.9%
$119.65
$100,145,103
72.7%
$125.89
13.4%
3.8 pp
$6.24

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 2.4%

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

Apr 2002
Apr 2002
17,491
1,132,137

16,921
1,092,517
27,002
1,538,818 35.2% 26.4%

Source: Metropolitan Washington Airports Authority

Back Issues of Economic Indicators

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%

Net Office Absorption*	Reporting Period	Current	Year-to-Date	Last Year-to-Date	Annual Change
*Arlington* Northern Virginia	1st Q 2002 1st Q 2002	550,078 317,163	550,078 317,163	-476,433 -2,199,025	1,026,511 2,516,188

Total Office Vacancy Rate*	Reporting Period	Current	Last Period	Last Year	Annual Change
*Arlington* Rosslyn Clarendon/Courthouse Ballston Virginia Square Crystal City *Northern Virginia*	1st Q 2002 1st Q 2002 1st Q 2002 1st Q 2002 1st Q 2002 1st Q 2002 1st Q 2002	9.1% 12.2% 9.3% 12.7% 8.8% 5.8% 15.4%	9.2% 13.3% 8.4% 10.8% 10.1% 6.8% 14.3%	5.0% 4.5% 3.8% 3.3% 2.1% 7.6% 7.3%	4.1 pp 7.7 pp 5.5 pp 9.4 pp 6.7 pp 1.8 pp 8.1 pp

Housing Sales*	Reporting Period	Current	Year-to-Date	Last Year-to-Date	Annual Change
Single Family Detached Single Family Attached Condominium	Apr 2002 Apr 2002 Apr 2002	121 44 130	418 116 419	381 93 400	9.7% 24.7% 4.8%

Average Housing Prices*	Reporting Period	Current	Last Period	Last Year	Annual Change
Single Family Detached Single Family Attached Condominium	Apr 2002 Apr 2002 Apr 2002	$443,532 $384,752 $196,472	$442,215 $429,203 $190,121	$383,365 $295,910 $171,402	15.7% 30.0% 14.6%

Tourism	Reporting Period	Current	Year-to-Date	Last Year-to-Date	Annual Change
Lodging Sales Receipts Hotel Occupancy Average Daily Room Rate	Apr 2002 Apr 2002 Apr 2002	$28,865,841 84.5% $129.67	$86,751,529 68.9% $119.65	$100,145,103 72.7% $125.89	13.4% 3.8 pp $6.24

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	2.4%

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%

Ronald Reagan Washington National Airport	Reporting Period	Current	Last Period	Last Year	Annual Change
Total Aircraft Operations Total Passengers	Apr 2002 Apr 2002	17,491 1,132,137	16,921 1,092,517	27,002 1,538,818	35.2% 26.4%