Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 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's one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - author of Things That Make You Go Hmmm, one of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, 'MacroBusiness'.

Saturday, 8 August 2015

US unemployment 5.3 per cent

Green light for hikes?

In the US it looks as though interest rate hikes may be imminent as the economy continued to add jobs at a steady pace.

The July non-farm payrolls result from the US Bureau of Labor Statistics was +215,000 with the result for both May and June revised up by a combined +14,000. 

July 2015 marked the 58th consecutive month of employment gains for the US economy, with the month's jobs gains focused in the services sector, including retail (+36,000), health care (+28,000) and professional and technical services (+27,000).

There were also some jobs gains in the manufacturing sector (+15,000).

The average monthly rate of jobs gains in 2015 has been a little slower than was seen in 2014 at +211,000.

The unemployment rate held steady at 5.3 per cent having almost halved since its peak.

Average hourly earnings ticked up by 5 cents to $24.99, and importantly average hourly earnings were up by 2.1 per cent over the past year. 

Although inflation is expected to remain fairly muted over the period ahead, there is increasingly speculation that the Federal Reserve could begin hiking interest rates as soon as the next month (after one more month of employment data).

It's been a long time between drinks.