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'.

Friday, 11 March 2016

Record employment...kind of

Employment at record high

-a record 13.174 million Australians in the workforce (up by a huge +648,000 since February 2015); and 

-a record 11.855 million Australians are employed (up a by an even greater +710,000 since February 2015)

However, Roy Morgan also reports that there are:

-1.319 million unemployed Australians, and 1.161 million under-employed Australians

Combining the unemployment and underemployment figures shows that 2.48 million Aussies are unemployed or underemployed.

ABS results

It is quite popular to highlight the differences and discrepancies between Roy Morgan's survey and that of the Australian Bureau of Statistics (ABS).

Yet although the numbers are a little different, the trends are not that dissimilar.

The ABS also records around 11.9 million total employed, although it categorises a slightly higher 8.186 million of those as full time employed.

Although of course most people are jolly pleased that the unemployment rate has not risen as high as had been projected, with the trend unemployment rate now 5.8 per cent, this is still too high for comfort, and there is too much complacency around!

Here are the trend unmployment rates by state:

The ABS quarterly figures also show a higher rate of underemployment rate than acceptable, with this ratio elevated in Tasmania and South Australia, and rising in Western Australia.

New South Wales scores best on most labour force metrics, while the underemployment ratio has declined in Queensland lately.

The employment ratio, participation rate, underutilisation and monthly hours worked charts track a very similar story, with New South Wales leading the way, and Queensland improving.

Markets still expect interest rates to be cut again in Australia, but not until early next year.