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, 30 March 2017

Victorian jobs boom

Melbourne

Sydney's labour force has previously been on a blistering run, with total employment across the state growing by a walloping 4.4 per cent in trend terms over the calendar year 2015.

This was not sustainable, and employment growth has now slowed to a crawl.

Victoria (and particularly Melbourne) has now taken up the mantle, with employment growth peaking at 3.8 per cent in trend terms in October 2016.

In truth, there's not been too much happening elsewhere...


When looking at the actual number of net new jobs created we see that Melbourne and Victoria have created...well, nearly all of the net growth in employment over the past year. 


There is a veritable slew of new data out today, so there's plenty to look at, including among other things new figures on migration and regional population growth for 2016.

I expect to see regional population growth having slowed further, with capital cities accounting for a near-record share of population growth.

Moreover, we can expect to see the strength in Victoria's labour market sucking more people in to Greater Melbourne. 

Stay tuned.