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).

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 is 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 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'.

"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 of the world's most popular & widely-read financial publications.

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

Wednesday, 16 July 2014

UK employment to record high of 30.6m (+254,000 q/q)

Another huge quarter of employment gains in Britain, with the economy adding an incredible 254,000 jobs in the three months to May.

Employment increased to its highest level on record at 30,643,000 with the rate of jobs gains now accelerating (click chart).

Unemployment also fell by 121,000 in the quarter to 2.1 million, with the unemployment rate down to 6.5pc.

That's the lowest rate of unemployment seen since Q4, 2008 when the rate was at 6.4pc (click chart):

Economic recoveries never run in a straight line, of course, and year-on-year wages growth was very weak and well below the rate of inflation which is tracking at 1.9pc.

However, the year-on-year wages data is out of whack as in the prior year bonus payments were delayed in order to benefit from changes to marginal tax rates, so the next quarter will give a clearer picture.

Overall, great to see unemployment continuing to decline in Britain, now down a massive 383,000 y/y.

Pencil in a first interest rate hike for mid-2015.