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.”
Amazon warehouse workers in Alabama are set to begin voting to unionize for a second time after workers at the facility in the town of Bessemer overwhelmingly voted against forming a union during an election early last year; but in November, the National Labor Relations Board overturned the vote, upholding a union challenge of the results which argued that Amazon undermined the conditions for a fair election. Another round of ballots will now be mailed out to works at the warehouse for a so-called re-run election. Director of Labor and Employment Studies at San Francisco State University John Logan and National Field Director for Our Revolution Mike Oles joined Cheddar News' Closing Bell to discuss.
Stocks closed near session highs Tuesday as investors eyed more strong corporate earnings reports, and prepped for Thursday CPI data which will give an idea of how hot inflation may still be running. Hugh Johnson, Chairman and Chief Economist of Hugh Johnson Economics, joined Closing Bell to discuss today's close, earnings season so far, predictions about the Federal Reserve's plan to raise interest rates, and more.
Johannes Evenblij, President of PepsiCo Beverages North America for the West Division, joins Cheddar News to discuss giving back at the Super Bowl this year
Youth sports coaching service MOJO has partnered with Major League Baseball, named the "trusted grassroots coaching app" of the MLB. The app provides content for parents and coaches to help young players grow their skills. Ben Sherwood, founder & CEO of MOJO joined Cheddar News to talk about how his app works to improve coaching to keep players interested. "The number one reason that kids drop out of sports and all of the surveys is that sports aren't fun, and one of the big reasons that sports aren't fun is that the coach doesn't know what she or he is doing," he said. "We think there's a great coach in everyone, and we just have to have the right resources and tools and inspiration."
Big tech companies such as Amazon and Google are garnering criticism for failing at their proposed climate pledges, most of which rely on carbon offsets — a potential loophole where companies pay others to address their omissions. Gilles Dufrasne, policy officer at Carbon Market Watch, joined Cheddar News to explain the organization's negative evaluation. "The objective here is not to bash companies and say everybody is doing the wrong thing," he said. "The objective is to also provide lessons, and there are some companies that are doing the right thing."
Jeff Zucker has resigned as CNN's president, writing in a memo he failed to disclose a romantic relationship with a colleague. Zucker admitted to the relationship, which he described as consensual, during the investigation into former CNN anchor Chris Cuomo's behavior. Seth Schachner, managing director of StratAmericas, joined Cheddar to discuss where does this abrupt resignation leaves the network.
