This annual report shows student transiency and stability rates for the 1988-89 school year in the Los Angeles Unified School District (LAUSD). Transiency refers to the number of students who enter and leave a school during the year, expressed as a percentage. Stability refers to the number of students who remained in a school all year, expressed as a percentage of the starting enrollment. The formula for computing transiency and stability rates for 1987-88 and 1988-89 includes all interstate transfers, whereas earlier reports do not; therefore, the rates for 1988-89 are comparable to 1987-88 but not to previous years. Information was gathered for all regular, magnet, and special education schools. Rankings were computed for each group, with a summary for the district. The following findings are presented: (1) schools of choice (magnet schools and centers) had the highest stability and the lowest transiency rates; (2) regular senior high school students were more transient and less stable than the average LAUSD student; and (3) compared to the previous year, district stability remained the same and transiency increased slightly. Statistical data are presented in ten tables. (FMW)