Real-time thoughts & analysis of the markets, economy & more...
Co-founder & CEO of AllenWargent property buyers & WargentAdvisory (subscription market analysis for institutional clients).
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Pete Wargent blogspot
Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).
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.
Wednesday, 16 March 2016
UK unemployment holds at 10 year low
As far as I can tell following a snazzy ONS website revamp, it's pretty much as you were for the UK labour force.
Total employment sneaked up to a new high of 31.42 million, while the employment rate is the joint highest since records began in 1971 at 74.1 per cent.
Total employment has increased by 478,000 over the year to its highest ever figure.
The unemployment rate held steady at a 10 year low of 5.1 per cent, with 171,000 fewer unemployed people than one year earlier.
The unemployment rate is down from 5.7 per cent one year ago, and now sits below where it was before the recession.
Average weekly earnings growth excluding bonuses increased a little to be +2.2 per cent year-on-year.
Overall, a fairly unremarkable release, with the increase in annual pay growth a welcome if overdue rebound.
Perhaps there is some comfort to be found in the employment figures in countries such as the US, UK and Australia of late, that being that low interest rates and stimulus do get around to adding jobs and growth eventually, even if there is a hidden cost.
Very excitingly, Australia's Labour Force figures are due out tomorrow morning.