- Pick & Scroll News by The Aussie Corporate
- Posts
- 🗞️ Job security
🗞️ Job security
NSW unemployment has hit 4.7%, the worst in 5 years, with 34,000 more people out of work in 3 months as higher rates, petrol prices and falling house prices pull demand down across the state.
Pick & Scroll News
October 16, 2026
Was this email forwarded to you? Sign up here
Good morning. NSW unemployment has hit 4.7%, the worst in 5 years, with 34,000 more people out of work in 3 months as higher rates, petrol prices and falling house prices pull demand down across the state.
The jobless rate is now higher than market forecasts and sits above the Reserve Bank's own end-of-year projection, with 223,000 people looking for work - the most since the pandemic.
Economists still expect the RBA to raise rates again on Melbourne Cup Day, which means unemployment will keep climbing even though it's already worse than the central bank said it needed to be.
All the headlines and more below...
TIPPING PROMPTS NOW APPEAR ON 75% OF AUSTRALIAN CARD PAYMENTS AS DIGITAL SYSTEMS IMPORT US-STYLE CULTURE
Popular Eftpos terminals from Square, Zeller and Tyro have tipping prompts built in, and once switched on they ask customers to tip at pubs, cafes, rideshares, beauty salons and even QR code ordering systems - places where tipping was rare until recently. Digital prompts place more pressure on customers than physical tip jars because people often feel uncomfortable pressing "no tip" when staff are standing nearby.
Zeller, Tyro and Square charge transaction fees between 1.2% and 1.6% on the total bill including the tip. One Melbourne salon owner using a platform with a 1.59% fee says paying out tips to staff after deducting the platform's percentage is "just a bit of a pain" and he is considering removing the option after clients told him the prompts are "quite rude".
Australia has no legal framework requiring businesses to pass tips on to employees. The Fair Work Ombudsman says the Fair Work Act does not have rules about dealing with tips, only that employees must be paid at least the minimum rates under any applicable award or agreement. Hospitality workers report some employers using tips to cover breakages like dropped plates or withholding them entirely, while in the UK and US tips are legally required to go directly to staff.
AUSTRALIAN NEWS
A Canstar survey of 10,000 Australians named Aldi, Macquarie Bank, NRMA Insurance, HCF, Aussie Broadband, Australian Retirement Trust and Red Energy the most trusted brands across seven categories covering 183 companies. LINK
A record 11.5 million Australian adults now invest outside superannuation and their main home as 950,000 more plan to start within 12 months. LINK
Victorian taxpayers could face a bill of up to $80 billion in a major fuel crisis under 1970s-era emergency laws that allow compensation for economic loss, after planned changes were not introduced before the state election. LINK
Victoria's Department of Education directed state schools to remind parents that all curriculum instruction and resources, including textbooks, are free, with principals warning the advice will cut voluntary contributions and squeeze school budgets. LINK
BANANA STOCK AT WOOLWORTHS, COLES AND ALDI RUNS OUT AS COLD WEATHER SLOWS FAR NORTH QUEENSLAND CROPS
Woolworths, Coles and ALDI ran out of bananas at stores across the country after cooler weather in Far North Queensland slowed the growth of Cavendish bananas. Woolworths put up notices on 2 October warning customers to expect limited displays through the month, with supply flagged to return to normal by November.
Shoppers in Melbourne and Geelong reported empty shelves at all 3 major chains over the past week. Some stores that did have stock displayed unusually green fruit. Cooler spring temperatures slow the fruit's growth cycle and delay ripening.
Woolworths said every banana it sells is Australian-grown and that it continues to work with local suppliers. Industry sources expect availability to improve over the coming weeks.
COMPANY NEWS
ASIC dropped its insider trading and governance probes into WiseTech Global co-founder Richard White and 2 employees, issuing no-action letters, while continuing to investigate another non-employee individual. LINK
The ACCC launched Federal Court action against Kmart alleging it sold unsafe OXX nail glue and Anko button-battery products without adequate warnings or testing, exposing consumers to serious injury risks. LINK
Atlassian disclosed in its 2026 proxy statement that it paid co-founder Mike Cannon-Brookes US$2.8M to use his private jet, arguing the below-cost charter arrangement benefits shareholders. LINK
Bank of Queensland reported a 7% fall in full-year cash earnings to $358M as its home loan book shrank again, while commercial lending and dividends increased. LINK
Target and Big W pushed more than 25,000 and 35,000 products respectively onto Uber Eats and DoorDash for 1-hour delivery. LINK
Bupa warned that its 4M members' out-of-pocket medical costs jumped more than 28% in 2 years as soaring specialist fees forced many Australians to delay or skip care. AFR
The RBA posted an $8.5B loss in FY26 as rising global bond yields and a stronger Australian dollar slashed portfolio values, pushing its negative equity to $11.3B. AFR
Amazon Australia removed a $48 LED ceiling light from sale after it caught fire and failed safety tests, as ACCC and consumer groups pushed for tougher online product-safety laws. LINK
Lush will exit its 10 Westfield leases over the next 3 years as it shifts to a smaller footprint focused on serving local communities in what it calls the right locations. LINK
Treasury Wine Estates reaffirmed its strategy to halve its wine portfolio while ruling out a fire sale of brands after raising $50M so far from disposals. AFR
Unify Your Teams and Tech Stack With HubSpot
Connect your customer data, teams, and tools without the hassle of complex integrations or lengthy setups. One easy platform gives marketing, sales, and service teams a unified customer view and the tools to turn it into growth.
Why HubSpot and what's new
• Generate leads and automate marketing with Marketing Hub
• Build your pipeline and close more deals with Sales Hub
• Scale customer support and drive retention with Service Hub
• Keep customer data clean, connected, and actionable with one, unified platform
Join 306,000+ in over 135 countries using HubSpot to grow their businesses.
See what a more connected approach to growth can do for you and your team. Get setup quickly and start checking off your hardest tasks.
CHART OF THE DAY
Australia sits mid-table at 3.9%, well behind Canada's leading 5.7% but far ahead of China's just 1.3%.
ONE MORE SCROLL
Odd Pick: Diego Poncelet has set a downhill skateboarding world record by reaching 151.83km/h as he hurtled down Route des Éboulements.
Draft Pick: Australia edged New Zealand 24-22 in the Rugby League World Cup opener as debutant Jack Bostock scored 3 tries including a late match-winner despite Kiwis pack dominance.
Doctor’s Pick: Blood sugar spikes are not necessarily bad for you.
TRIVIA
Which country has the most time zones (including overseas territories)?
Answer below
How do you want Pick & Scroll?Pick the Friday recap and you'll get one email a week, on Fridays, from next week. Changed your mind? Vote again in any edition this week, or reply to any email. |
OUR SOCIALS
 |