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 finest 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.

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.