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.”
Jared Watkin, senior vice president, diabetes care, at Abbott Laboratories, joined Michelle Castillo from the CES 2022 floor to discuss the future of health tech, including Abbott's consumer-facing biowearable called Lingo. The accessory is supposed to send real-time biomarker information like glucose or ketone levels to the Lingo app for the wearer to review. "The idea is that it's a window into your body," Watkin said. "It gives you insight into what's going on in your body and the certain circumstances that you otherwise wouldn't be able to have."
Aaron Jefferson, VP of product at Luminar, joined Cheddar to discuss partnering with automaker Volvo to bring its LIDAR (light detection and ranging) tech into autonomous cars capable of safely driving on the highway. While companies like Tesla have come under fire due to safety issues with its self-driving technology, Jefferson noted how his company's tech differs. "Our LIDAR, its iris sensor that's really set for production, is able to sense, understand, and give the vehicle confidence to react accordingly such that you don't have these same types of issues," he said. The Ride Pilot technology in Volvo vehicles will be rolled out in California following safety testing.
The fintech app backed by billionaire Mark Cuban called Dave made its public debut on the Nasdaq Thursday via a SPAC merger. CEO and co-founder Jason Wilk spoke to Cheddar's Kristen Scholer about the IPO and how his company's services distinguish it from traditional banks. "Customers come to us because they're tired of paying $20 billion of overdraft fees, and they come to Dave, they download our app, and within minutes they can get access to $250 of no interest credit, which we give them through our own proprietary machine learning model," he told Cheddar.
Stephanie Linnartz, president of Marriott International, joined Cheddar's "Closing Bell" to talk about the launch of the Marriott Design Lab, a new facility within its Bethesda, Maryland, headquarters to explore innovative tech offerings for bolstering the guest experience. "It's all around figuring out how we can innovate in the guest room in the public space, looking at how we can use robotics, improve sustainability, etcetera," she said. Some short-term changes in the future Linnartz also noted is an expansion of the chain's mobile capabilities to make check-in and check-out an easier process for guests, as well as mobile room service, from the feedback it received during the pandemic.
Nike has initiated a lawsuit against athletic apparel retailer and competitor Lululemon over claims of patent infringement. The sneaker giant is claiming the technology in their rival's MIRROR home gym was patented back in 1983.
Adi Robertson, senior reporter at The Verge, joins Cheddar News to break down the battle between two NFT collections by Phunky Ape Yacht Club and PHAYC that are selling plagiarized Bored Ape Yacht Club designs.
Following the attack on the Capitol last year, several major corporations promised to no longer pour funds into the campaigns of Republican lawmakers who supported the January 6 insurrection. But not all have stood firm on their word. Among those that did keep to their promise were Nike, American Express, and Walgreens.
Maja Vujinovic, managing director of investment and advisory firm OGroup LLC, spoke to Cheddar about factors impacting the price of a Bitcoin. She attributed some of the drop-offs in the cryptocurrency's value to inflation and expects the space to continue being volatile. Vujinovic also stated that Bitcoin is here stay and will continue to expand, opening the door for legislators to establish regulation around cryptocurrencies.
