Australia job market grew 21.6k in December, above expectation of 18.1k. Full-time jobs, however, dropped -3k. Part-time jobs rose 24.6k. Unemployment rate dropped -0.1% to 5.0%, better than expectation of 5.0%. That equals the lowest level in more than 6 years, as touched back in September and October. However, participation rate dropped by -0.1% to 65.6%.
While the set of data was solid, it isn’t too encouraging and paints no sign of tightening in the Australian job market. AUD/USD dips through 0.7116 minor support, which suggests completion of rebound form flash crash low at 0.6722. Further downside would be seen in the pair.
