Australia added 44k jobs in January, above the 20k expected increase, and the unemployment rate ticked up 0.1 ppts to 4.1%, in line with forecasts.

• The total number unemployed increased 23.4k or 3.9% MoM and is up 4.2% YoY.
• The underemployment rate remained unchanged at 6.0%.
• The participation rate increased 0.2 ppts to 67.3%, and the employment-to-population ratio reached a new long-term high of 64.5%.
• Monthly hours worked eased -0.4% MoM but is still up 5.9% YoY.