Summary: Employment down 11,500 in January, contrasts with expected gain; NAB: employment “much stronger” than headline; Westpac: more data required before accepting softer trend concept; participation rate declines to 66.5%; jobless rate up from 3.5% to 3.7%; more part-time, fewer full-time jobs; aggregate work hours down 2.1%; underemployment rate steady at 6.1%. Australia’s period of falling unemployment came to an end in early 2019 when the jobless rate hit a...