Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Saturday, 7 September 2013

US payrolls +169,000 workers - 7.3% unemployment lowest since Dec 2008

The US saw another 169,000 workers added to payrolls and the unemployment rate fell to 7.3%.


Source: Bureau of Labour Statistics

In the context of forecasts this was a little disappointing, for economists had expected 180,000 jobs to be added.

The participation rate also fell and previous months' data was also revised downwards, so the report was far from ideal.

The chart does show that over the past two years, the US economy has continued to add to its non-farm payroll employment consistently.


Source: Bureau of Labor Statistics

The Fed may hold off its taper of bond purchases a little longer, but nevertheless, the figures continue to move in the right direction.

From Bloomberg:

"Payrolls in the U.S. climbed less than projected in August after smaller gains the prior two months, indicating companies are being deliberate in their hiring as they wait for a pickup in demand. The unemployment rate unexpectedly fell as more people left the labor force.
The gain of 169,000 workers last month followed a revised 104,000 rise in July that was smaller than initially estimated, Labor Department figures showed today in Washington. The median forecast of 96 economists surveyed by Bloomberg called for an August increase of 180,000. Unemployment dropped to 7.3 percent, the lowest since December 2008.
Treasuries and stock futures rose as investors curbed bets that the Federal Reserve will start to reduce its $85 billion monthly pace of bond purchases at its Sept. 17-18 meeting."