Analysts at TD Securities point out that Australian employment jumped by +37k in Nov (TD +35k, mkt +20k) but all part-time at +43.4k.
Key Quotes
“The unemployment rate rose to 5.1% due to a pickup in the participation rate to 65.7%.”
“Overall, another solid employment report, looking thru full-time/part-time volatility. RBA doesn’t expect the u-rate to have a four-handle until 2020.”
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