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.”
Johnson & Johnson is the latest company to announce this week it is splitting into two companies, separating its consumer operations from its pharmaceutical and medical devices unit. Electronics firm Toshiba also made a similar announcement today, and General Electric earlier this week also said it would be spinning off its aviation, healthcare, and power businesses. What does this mean for investors - and will this become a trend among conglomerates? Barron's Senior Writer Al Root joins Cheddar News' Closing Bell to discuss why Johnson & Johnson is splitting up, what this strategy means for conglomerates, and why they might pursue a break-up.
Business is booming for the used car marketplace Shift while the automotive industry as a whole struggles with demand and supply chain issues stemming from the global semiconductor shortage. Co-CEO and co-founder George Arison joined Cheddar's "Closing Bell" to talk about the company's stellar Q3 earnings and how it was able to meet demand.
Disney+ miss on new subscribers in Q3 and the growing momentum for moviegoers returning to brick-and-mortar theaters has brought the streaming business into question. Seth Schachner, managing director at Strat Americas, joined Cheddar to discuss the state of streaming and the growing number of options consumers have. "Streaming is for sure here to stay and I think more robust than ever," he said. "The real thing that's happening, not just to Hollywood but to lots of verticals from music to sports, is just that there's tons and tons of consumer choice."
Peter Weber, author and star of ABC's The Bachelor, joined Cheddar to talk about his new children's book, "The Adventures of Pilot Pete," scheduled for release on Nov. 23. Weber, a real commercial pilot, said that while fellow Bachelor Nation contestants tend to write books following their experience on the small screen, one of the reasons he opted to write a children's book instead was the prospect of the longevity it could provide.
Dr. Wendy Osefo, Entrepreneur, Professor & Cast Member of Bravo's 'Real Housewives of Potomac', joins 'Your Future Home' to discuss her popular new Onyi Home Essentials line and how ideas of family and legacy helped shape it.
David Girouard, CEO of Upstart, an artificial intelligence lending platform, joined Cheddar to discuss Q3 earnings, noting growth in revenue and profits as more banks, credit unions, and car dealerships use Upstart tech. He also reflected on how his fintech company is working to help people with low credit or no credit secure access to credit and loans.
With the shortage of shipping containers and truck drivers, the global supply chain is taking a beating just ahead of the holiday season. As retailers gear up to meet higher demand, DHL Express is adding capacity, both in infrastructure and aviation. Greg Hewitt, U.S. CEO at DHL Express, joined Cheddar's Opening Bell to provide some additional details on the ramped-up investments.
