Australia's unemployment jump startles economists, Coles revives the supermarket wars, and more top news

The news Australian professionals are talking about now, curated by LinkedIn’s editors. Join the conversation in the comments below.

Australia's unemployment rate surprised economists by climbing to 5.3% in August — its highest level in a year. The increase was caused by a rise in the participation rate — a measure of the number of people employed or actively looking for work and could encourage more interest rate cuts and calls for the government to scale back its focus on budget surpluses to stimulate the economy. Ironically, a smaller-than-expected budget deficit was also announced on Tuesday, setting the scene for a surplus this financial year. Here’s what people are saying.

Coles is slashing the price of more than 300 items in its latest bid to reignite its price war with arch rival Woolworths. But rather than focusing on price cuts, the new campaign takes a leaf out of another rival's book, honing in on “Costco-inspired 'Big Pack Value' products.” Everyday items such as tea, coffee and tomato sauce will be packaged in bulk sizes and marketed aggressively via private label brands. The company is also planning a heavy focus on buzzy gluten-free, low-fructose, and meat-free products. Here’s what people are saying.

If you want to attend Friday's climate strike, the Fair Work Ombudsman thinks you should ask your employer first. Millions of people around the world are expected to walk out of work or school on Friday to attend Strike 4 Climate Action events inspired by the 16-year-old activist Greta Thunberg. While it thinks employees should ask permission, the FWO has also reminded bosses that they can only refuse a request for annual leave "if the refusal is reasonable." Companies such as Atlassian have encouraged attendance. Here’s what people are saying.

So-called watercooler talk was long ago supplanted by Slack channels and the snarky online chats of workers sitting side-by-side, enveloped by noise-cancelling headphones, The New York Times notes. Suddenly, company drinks and corporate retreats have become the last bastion of genuine human interaction among colleagues who “would otherwise remain the closest of strangers.” Yet the events have their issues, too. Gossip often flows as freely as the drinks, and employees can feel pressure to “showcase skills that have little to do with job performance.” What is your experience socialising with your colleagues?

Corporate Australia can learn some salient lessons from the sporting industry, The AFR reports. Brendon Gale, chief executive of AFL football behemoth Richmond, says executives immersed in annual general meeting season should try “running the gauntlet of 90,000 rabid fans every week.” His team’s performance is heavily scrutinised weekly, Gale notes, and the stakes are rapidly rising. More than $700 million of revenue pours into the AFL annually, and a record $50 million profit is expected for 2019. Richmond scooped up $80 million last year, banking a $4 million profit. Here’s what people are saying.

Idea of the Day: Today’s working world requires constant learning by the employee, which companies needs to play an active role in, says author Daniel Burrus.

“The future of your career doesn’t depend on whether employment is available at a given company; it depends on how employable you are.” 

What's your take on today’s stories? Share your thoughts in the comments.

— Andrew Murfett