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, 3 June 2017

US unemployment rate lowest since 2001

Jobs miss

A disappointing jobs report from the US Bureau of Labor Statistics (BLS), with the economy adding only +138,000 jobs in May - comfortably missing expectations of +185,000 - and the figures for the previous two months revised down by a combined -66,000.


Still, that makes it 80 consecutive months of employment growth, a record stretch.


The pace of employment growth has thus pared back in 2017.


Also disappointingly annual earnings growth has slowed to 2.5 per cent.


The participation rate was lower this month at 62.7 per cent.

The unemployment rate fell to just 4.3 per cent, the lowest level since 2001 - the chart mirroring a similar trend in the UK, where the unemployment rate recently hit its lowest level in 42 years. 


Not a great result overall, truth be told, with the report implying a potential loss of momentum in the US economy.

Still the figures may yet be good enough to see the Federal Reserve hike rates at its meeting of June 13-14.