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'.

Monday, 6 February 2017

US jobs growth steady

Jobs growth steady

An apparently much stronger result for US nonfarm payrolls, with the economy adding +227,000 positions in January, figures which related to before the inauguration.

Although the headline result easily beat expectations there was a significant downward revision for November, which saw the change in total nonfarm payroll employment adjusted from +204,000 to +106,000 for that month. 

There were also adjustments to the total employment figures to reflect Census counts, but the totals still show a record 76 consecutive months of job gains under President Obama.

The US economy added a solid 2.1 million jobs in 2016, with a 2017 off to an even brighter start (if, that is, you’re happy to overlook the November revision).

Earnings stall

The weaker aspect to this report was the modest increase in average hourly earnings of only $0.03 to $26.00.

Year-on-year growth in earnings dipped accordingly to 2.5 per cent.

The unemployment rate was up a notch at 4.8 per cent, but assuming employment growth continues tracking within its present range, this is uptick is probably just noise. 

The wrap

Only the slower growth in earnings could explain a shift in bets against an imminent interest rate hike.

Overall, though, the result was a beat on expectations, and as full employment approaches it is expected that inflation will pick up.