Americans applied for fewer unemployment benefits at the end of 2019, the Labor Department announced Thursday. The number dropped by 2,000 to 222,000 in the seven days up until December 28, although the four-week average ticked up by 4,750 to 233,250.
The report beat expectations that had predicted 225,000 new claims, according to Reuters. The result marks the third consecutive weekly decline.
“I think we’re definitely going to see slightly smaller growth month by month than what we saw in 2019 and that’s consistent with economists expectations’ of the macroeconomy weakening slightly,” in the labor market, Beth Akers, Manhattan Institute senior fellow, told Cheddar.
She will be keeping an eye on manufacturing trends and changes in policy regarding trade for indications about how job numbers will grow (or shrink) in 2020.
“If you’re looking to something to be concerned about, you can look at the four-week moving average, which is up from what it’s been over the course of the year,” Akers said. “But, by and large, these are really strong, positive numbers for the labor market.”
For the first time, U.S. regulators on Wednesday approved the sale of chicken made from animal cells, allowing two California companies to offer “lab-grown” meat to the nation's restaurant tables and eventually, supermarket shelves.
Amazon was sued Wednesday by Federal Trade Commission for what it called a years-long effort to enroll consumers without consent into its Prime program and making it difficult for them to cancel their subscriptions.
A 29-year-old Cincinnati woman was awakened by her Apple Watch, which alerted her about an elevated heart rate, prompting her to head to a doctor who notified her of a blood clot.
Anheuser-Busch's top marketing executive Marcel Marcondes addressed the ongoing boycott of Bud Light after protests over the company's partnership with trans influencer Dylan Mulvaney.
UPS recently announced it would equip delivery trucks with air conditioning. Dr. Douglas Casa, CEO of Korey Stringer Institute at the University of Connecticut, spoke with Cheddar News on the dangers of heat stroke and how workers can keep themselves safe from extreme weather.
