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 finest 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.
Tuesday, 9 August 2016
Job ads point to "steady improvement" in hiring
Job ads slow recovery
ANZ's job advertisements data series continues its long, low grind.
Seasonally adjusted job ads of 157,278 in July were lower than in June, but +6.9 per cent higher than one year ago.
Trend job advertisements increased by +0.3 per cent in the month to be +6.5 per cent higher than in July 2015.
According to ANZ the series fell sharply in early July, before rebounding, suggesting that election uncertainty likely played a role in the early part of the month.
A similar 3 per cent fall was seen in consumer confidence in early July, and these losses were also subsequently recovered after the majority election result was announced.
Overall, with the Reserve Bank cutting interest rates in August, ANZ anticipates a steady improvement in hiring conditions through the remainder of the year.
Total advertisements are tracking about 25 per cent higher than at the most recent nadir in Q3 2013, which is obviously great news.
And the improvement has been enough to see the national unemployment rate decline from a 2014 peak of 6.3 per cent to 5.8 per cent over the last couple of years (see blue line in the chart below), with the slower rate of immigration playing its part.
That said, the recovery really has been a long, slow, grind higher, and job advertisements remain well below where they were at their heady pre-financial crisis peaks.
It's worth noting that resources industries and regions are not faring so well.
ANZ made reference in its report to "upbeat" surveyed business conditions, and this was mirrored by the NAB Business Survey for July.