Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, 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, 6 December 2014

US Economy Posts Largest Jobs Gain in 3 Years

Strong Jobs Gains

The US Bureau of Labor Statistics (BLS) released its November 2014 nonfarm payroll employment figures, which revealed that the US economy added 321,000 jobs in November 2014.

This was the greatest number of jobs added on the survey in 3 years, and well above the average monthly gain over the past 12 months of 224,000.

Reported jobs gains were widespread including across professional and business services (+86,000), retail trade (+50,000), healthcare (+29,000) and manufacturing (+28,000).


The unemployment rate held steady at 5.8 percent, which now compares favourably to the headline unemployment rate in Australia!


Unemployment and Earnings

The total number of US unemployed recorded by the BLS at 9.1 million has declined by 1.7 million over the past year.

The number of long-term unemployed at 2.8 million was unchanged but 1.2 million lower over the past year.

Over the past year average hourly earnings have increased by 2.1 percent and the workforce participation rate is essentially unchanged since April at 62.8 percent.

Aussie Dollar Declines

Overall, though, a report which sees +321,000 jobs - higher than the expectations of any of the surveyed economists - is definitely one for the bulls. 

The gold price pulled back by 1.2 percent to $1193 at the time of writing.

There is a little hidden corresponding positive news for the Australian economy in this release, with the Aussie dollar declining from 89 cents to just 83.2 cents since late October, which provides some welcome relief for exporters which have had margins squeezed hard by falling commodity prices.