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'.

Saturday, 9 January 2016

US payrolls eclipse expectations (+2.65 million jobs in 2015)

Sizeable beat

A big upside surprise for the world's most powerful economy, as the Bureau of Labor Statistics reported that total US nonfarm payroll employment increased by +292,000 in December, easily eclipsing market expectations of around +200,000.  

Better still, the results were revised up for October (+298,000 to +307,000) and November (from +211,000 to +252,000), for total positive revisions of +50,000.

This release rounds off another strong year for the US labor force, with employment gains now recorded over 70 consecutive months.

The economy has added 13.6 million jobs from the post-recession low, to sit 4.9 million higher than at the preceding peak.

The strong monthly result plus revisions saw the average monthly increase for 2015 improve to more than 220,000 for a total of 2.65 million jobs over the calendar year, following on from the impressive 3.12 million jobs created in 2014.

The participation rate ticked up a notch to 62.6 per cent, while the unemployment rate has been steady since October at 5 per cent. 

Construction employment grew strongly for the third month in a row, which likely augurs well for the US economy.

Average hourly earnings were only flat in the monthof December, but moved up to +2.5 per cent over the year, from +2.3 per cent in November. 

A happy result, then! The Aussie dollar moves sharply to 69.5 US cents on this news.

A big week of news ahead too, so stay tuned!