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.

Saturday, 5 November 2016

Fastest US earnings growth since 2009

73 months of job gains

The US Bureau or Labor Statistics reported that the US economy added +161,000 jobs in October, with upwards revisions to the two preceding months totalling +44,000.

That's a tidy result! 

This means that over the past three months the economy added a healthy +528,000 positions, or +176,000 per month. 

Healthcare employment increased by +31,000 on October to be +412,000 over the past 12 months, while professional and business services added another +42,000 positions for a total of +542,000 over the year. 

73 consecutive months of job gains mean that the previous record of 48 months has long since been smoked. 

Average monthly employment gains have been tracking +181,000 this year, apparently well ahead of the rate required to push unemployment down. 

With the Obama stint drawing to a close, we can see that more than 11 million private sector jobs have been added on a net basis, despite his office overseeing the tail-end of the 2009 downturn. 

The unemployment rate ticked down from 5 per cent to 4.9 per cent. 

The best part of the release was that average hourly earnings grew by +2.8 per cent over the year for the strongest result since June 2009. 

Endless debate about whether low rates have worked/are working/are yet to work.

That last chart is key. Interest rate hikes to follow, probably in December.