Employment surge leaves traders skeptical
It is too good to be true.
The Australian employment report came out with an oversized 58.6K gain last night. The expectation was 15K. 40K of the 58K were full time. Victoria’s unemployment rate fell from 6.3% to 5.6%. This despite the fact that the automotive sector in that region is winding down. The countries unemployment rate tumbled to 5.9% from 6.2%. WOW.