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.
Monday, 7 August 2017
Jobs ads rise for a 5th month
Job ads are ramping up nicely according to ANZ's survey.
Total ads rose for the 5th month on the bounce to 177,879.
That now represents a much improved +12.8 per cent increase from a year ago, and the highest level in 6.5 years.
"Recent data has shown a clear improvement in labour market conditions consistent with elevated business conditions, profitability and capacity utilisation. In particular, the strength in full-time employment and a solid increase in hours worked (near 3.3% y/y) are quite encouraging.
Among other things we think this strength has contributed to the lift in consumer confidence from its recent low point in April."
This bodes reasonably well for employment hiring over the next 6 months.
Roy Morgan's labour market results have been a fine indicator of improving conditions in 2017.
However, the July figures from Roy Morgan have now snapped back into line with the ABS figures.
All in all the figures seems to be consistent with employment growing at a pace of around +15,000 to +20,000 per month.
The Reserve Bank of Australia anticipates that the unemployment rate will steadily decline towards 5 per cent over the next few years, albeit at a snail's pace.
Hope they're right!