Share markets jumped at the prospect of an interest rate to 2.75% cut by almost 0.4%; Aussie shares are now at a 19 month high.
The futures markets rate a rate cut in February as 41% likely. The odds of rates being dropped at one of the next two meetings seem to be "more likely than not".
Aussie dollar ticked down on the news.
From the ABS:
TREND ESTIMATES (MONTHLY CHANGE)
- Employment increased to 11,541,500.
- Unemployment increased to 653,800.
- Unemployment rate steady at 5.4% from a revised November 2012 estimate.
- Participation rate steady at 65.1%.
- Aggregate monthly hours worked increased to 1,622.9 million hours.