Australia: Strong employment data - TDS

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.”