Employment Figures

Very interesting employment number yesterday which I believe gives the RBA little choice but to press the rate hike button in February. It certainly vindicates the rate hikes to date.

Total numbers employed grew by a solid 35,200 (all but 7,300 were part-time) while average expectations were for 10,000 (ANZ had 30,000). The headline rate dropped to a bullish 5.5% after a downward revision to 5.6% in November.

The trend is clearly displayed in this graph.