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, 26 June 2014

Job vacancies data strong for NSW

A nice bounce in the Jobs Vacancies data today from the ABS, consistent with a stronger New South Wales economy ahead.

Jobs vacancies nationally recorded a nice 2.1% seasonally adjusted bounce in the May quarter, implying better times ahead for the economy (click image):

As ever, though, I'd implore readers to consider the data at a more localised level.

Doing so reveals a continuing strong upturn in the New South Wales market, but certain challenges in the mining states, in Queensland and WA in particular.

Jobs vacancies are up by more than a third since May 2013 in New South Wales after having dived in 2012/13, which suggests to me that the state's economy is starting to fire up (click chart):

The chart essentially shows the total number of job vacancies recovering steadily after confidence took a bit of a shellacking 2011-2013 as debt crises shook global markets.

Incidentally, the gap in the chart is not an error - at least, it isn't on my part.

The Australian Bureau of Statistics suspended the Jobs Vacancies surveys in FY09/10 due to funding being slashed.

Overall, another small piece of the jigsaw which adds a little further weight to my case of NSW being Australia's star economy of the decade.