Real-time thoughts & analysis of the markets, economy & more...
Co-founder & CEO of AllenWargent property buyers & WargentAdvisory (subscription market analysis for institutional clients).
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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.
Wednesday, 3 May 2017
NZ unemployment falls to 4.9c
NZ unemployment down again
Dear, oh dear.
Can't beat them at rugby, and now this!
The unemployment rate for men fell to 4.2 per cent, the lowest rate since 2008.
As in Australia, wages growth remains low in New Zealand.
I went to NZ recently and was interested to note the sheer demand for construction workers (I was in Christchurch, which is rebuilding after a series of earthquakes - there has been a high level of construction in both Auckland and Canterbury).
A major reason I think the next move in interest rates could still be down in Australia is the elevated level of construction employment, with more than 1.1 million Aussies employed in the sector.
It is estimated that around three-quarters of those employed in Australian construction are accounted for by residential construction, and that sector is likely to turn down in 2018, possibly sharply.
Meanwhile, NZ is running rings around Australia with an unemployment rate of under 5 per cent.