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.”
The U.S. government’s auto safety agency plans to require that all new passenger cars and light trucks include potentially life-saving automatic emergency braking and meet stricter safety standards within three years.
A judge ruled against Boeing and said families of passengers who died in the 737 Max crash in Ethiopia can seek damages for the pain and suffering felt by the victims shortly before the accident.
Used car prices are skyrocketing, with some costing as much as a brand new car. Cheddar News reporter Ashley Mastronardi has more on what's behind rising prices for pre-owned vehicles and some tips for getting the best bang for your buck.
A group of Amazon workers upset about recent layoffs, a return-to-office mandate and the company’s environmental impact is planning a walkout at the company's Seattle headquarters Wednesday.
