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.”
Home improvement has seen an 82 percent increase since the start of the pandemic and from the looks of third quarter earnings from Lowe’s and Home Depot, it doesn't look like the home repairs will be stopping any time soon. As some industries have struggled to stay afloat, the home improvement competitors both beat out revenue estimates for the past quarter. Ken Leon, Director of Research at CFRA Research, spoke to Cheddar about why we should get used to the uptick in home improvement.
Al Root, Senior Writer at Barron's, joined Wake Up With Cheddar's Jill Wagner to break down who qualifies for the proposed EV tax credits and why some automakers aren't too pleased about extra incentives for vehicles made at union plants.
Automakers Tesla and Toyota have come out against President Joe Biden's EV tax credit plan currently being debated that would allow customers to write off up to $12,500 if they purchase an electric vehicle from a manufacturer that employs union workers.
Three-time Grammy Award winner Darius Rucker joins Cheddar News to discuss his new apparel line, NFL x Darius Rucker Collection by Fanatics, a new line of officially licensed NFL apparel inspired by Rucker’s love of music, football, and fashion.
Jill Wagner is joined by Baker to talk about kids and vaccines: we finally know how many young kids are getting vaccinated. Plus, Democrats are working on a Plan B for paid family leave. And the salad chain Sweetgreen goes public.
Chipmaker NVIDIA easily beat its third quarter fiscal 2022 earnings expectations, reporting earnings per share of $1.17 on revenue of $7.1 billion, thanks to success in its gaming and data center divisions. The company is also poised for potential success as tech giants like Facebook and Microsoft push forward with metaverse projects and technology. Daniel Newman, Founding Partner and Principal Analyst at Futurum Research, joins Cheddar News' Closing Bell to discuss NVIDIA's earnings results, chipmaker competition, and more.
Germany could be on track to legalize and regulate adult-use cannabis, which could represent a massive market opportunity for cannabis companies. Prohibition Partners' researcher Conor O'Brien joins Cheddar News' Closing Bell to discuss the potential legalization of recreational marijuana in Germany, Luxembourg's recent legalization, and what those moves mean for the broader cannabis industry.
