Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 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's one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - author of Things That Make You Go Hmmm, one of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, 'MacroBusiness'.

Friday, 23 December 2016

Employment growth slower in 2016

Employment growth slower

Total employment rose to above 12 million in November in original terms, but the rate of employment growth has been considerably slower in 2016 than in the prior year.


When you take a more granular perspective it's not hard to see why.

Sydney went on a blazing run in 2015, but over the past year has added only +14,800 new jobs, leaving Melbourne as the undisputed king of employment growth at +74,600.

Employment growth went backwards in regional New South Wales in 2016. 


Brisbane has now reversed an unusual looking drop, and added +10,000 net new positions over the year, but both Perth and regional Queensland lost ground. 


Looking around the traps, therefore, it's clear that Melbourne has been keeping the show on the road in 2016. 


Across regional Australia as a whole total employment is lower than it was a year ago, with some regions faring better than others. 

Unemployment rates have run quite high in a number of regions. 


Perhaps the early signs of an employment rebound in Townsville?


I'll drill into the figures by industry next up.