The Aussie market is holding onto modest gains heading into lunchtime, currently 15 points (+0.4%) in the green, at 4233.

Most sectors are stronger, with consumer discretionary and materials plays leading the way.

In economic news, the Australian economy shed almost 30,000 jobs in December, capping the worst year for employment in two decades.

The unemployment rate remained steady at 5.2% however, in line with the downwardly revised 5.2% reading from the previous month.

The result increases the likelihood that the RBA will cut interest rates for the next consecutive month in early February.

Around the region, Asian markets are all trading higher; the Hang Seng (+1.1%) and Nikkei (+1.2%) are the strongest performers.

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Midday Market Analysis: Jobs Dry Up is a post from: Australian Stock Report Market Pulse Blog