Real-time thoughts & analysis of the markets, economy & more...
Co-founder & CEO of AllenWargent property advisory & buyer's agents.
Check us out here www.allenwargent.com - to invest in Sydney/Brisbane property or for media/public speaking requests email email@example.com
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.
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"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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Saturday, 5 November 2016
Fastest US earnings growth since 2009
73 months of job gains
The US Bureau or Labor Statistics reported that the US economy added +161,000 jobs in October, with upwards revisions to the two preceding months totalling +44,000.
That's a tidy result!
This means that over the past three months the economy added a healthy +528,000 positions, or +176,000 per month.
Healthcare employment increased by +31,000 on October to be +412,000 over the past 12 months, while professional and business services added another +42,000 positions for a total of +542,000 over the year.
73 consecutive months of job gains mean that the previous record of 48 months has long since been smoked.
Average monthly employment gains have been tracking +181,000 this year, apparently well ahead of the rate required to push unemployment down.
With the Obama stint drawing to a close, we can see that more than 11 million private sector jobs have been added on a net basis, despite his office overseeing the tail-end of the 2009 downturn.
The unemployment rate ticked down from 5 per cent to 4.9 per cent.
The best part of the release was that average hourly earnings grew by +2.8 per cent over the year for the strongest result since June 2009.
Endless debate about whether low rates have worked/are working/are yet to work.
That last chart is key. Interest rate hikes to follow, probably in December.