Real-time thoughts & analysis of the markets, economy & more...
Co-founder & CEO of AllenWargent property advisory & buyer's agents.
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Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
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'.
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Thursday, 29 September 2016
NSW job vacancies +19.4pc to new record
Vacancies rise to 4-year high
The ABS reported that Job Vacancies improved over the year to August 2016, ticking up by 4.5 per cent in the quarter to a total of 177,300.
Vacancies are now at a 4-year high, which bodes well for hiring.
This represents an annual increase of +15,800 positions or +9.8 per cent.
It has become marginally easier for unemployed persons to find work on this metric, with there now being 4.1 persons per job vacancy in trend terms, well down from more than 5.1 persons per vacancy two years ago.
Where and what?
The state of New South Wales is on fire, with job vacancies booming +19.4 per cent higher over the year to an unprecedented 69,400.
Victoria (+16.5 per cent over the year to August) and Queensland (+7.8 per cent) also netted solid annual results (these data aren't seasonally adjusted).
Mirroring what we've seen elsewhere the largest quarterly gains were in professional, technical, and scientific roles (+4,400), while there were also improvements in accommodation and food, and healthcare and social assistance.
An annual improvement of just under 10 per cent over the year to August to a 4-year high.
A solid result, which suggests that market for jobs is in pretty decent nick.