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.
Thursday, 18 August 2016
Triple whammy boost
Brexit brushed...for now
A triple whammy of good news for Britain's pre-referendum economy.
Total UK employment increased by another +172,000 over the three months to June 2016, to an all-time record high of 31.75 million, according to the Office for National Statistics.
This was an increase in employment of +606,000 from the prior year.
The employment rate for 16-64 year old persons rose to its highest level since comparable record began in 1971.
The April-June unemployment rate of 4.9 per cent was the lowest since 2005, and matched the post-recession low water mark.
Meanwhile there was also a surprise fall in the number of benefits claimants.
The number of unemployed fell to 1.64 million, some 207,000 fewer than a year earlier.
And average weekly earnings including bonuses increased by a stronger than expected +2.4 per cent from one year ago, well ahead of the inflation rate of just +0.5 per cent over the period.
All great news, but as Britain voted for a "Brexit" this might be as good as it gets.