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.”
Chris Walsh, CEO of Marijuana Business Daily and chair of MJBizCon, joins Cheddar News' Closing Bell to discuss this year's conference turnout, growth in the cannabis industry, and potential federal legalization.
Vacasa is the largest full-service vacation rental property management company in the United States. Today, it announced the launch of a new homeowner app to help users monitor how the company is managing their vacation rental homes. It comes as consumer confidence in travel is on the rise ahead of the holiday season. Vacasa CEO Matt Roberts joined Cheddar News' Closing Bell to discuss.
President Joe Biden introduced the Global Methane Pledge on the second day of the United Nations climate summit. The U.S. and the European Union will lead the way when it comes to methane emissions reductions, and close to 100 nations have also signed on. It's seen as the fastest way to slow down global warming and keep nations on track toward meeting the goal of keeping warming just 1.5 degrees Celsius above late 1800s atmospheric levels. Dr. Sweta Chakraborty, U.S. President of climate-focused startup 'We Don't Have Time' joins Cheddar Climate to discuss the importance of the Biden administration's methane regulations -- and the importance of U.S. leadership when it comes to climate issues.
Gaming publisher Kepler Interactive secured $120 million in funding from the Chinese gaming firm NetEase. This investment comes as the global gaming market explodes with projections to cross the $200 billion mark as early as 2023. Lindsey Rostal, Co-Founder and Game Director of Timberline Studio, one of the founding studios at Kepler joined Cheddar News' Closing Bell for more.
Everyone is stepping into the NFT space, including the Grammys. 'Oneof' is entering a three-year partnership with The Recording Academy to release exclusive NFTs commemorating the 64th, 65th, and 66th Annual Grammy Awards. A portion of the proceeds will also go to The Recording Academy's scholarship fund. Adam Fell, co-founder and board member of Oneof and the president of Quincy Jones Productions, joins Cheddar News to discuss the announcement.
'THEMAGIC5' produces swimming goggles that contour the face using advanced robot technologies and 3D printing. Both of the company's founders Bo Haaber and Rasmus Barfred went on ABC's 'Shark Tank' and caught a $1 million deal. The duo join Cheddar News to talk about what the new funding means for the company.
Molly Hayward, the founder of wellness brand Cora, joins Cheddar News to discuss the company's product, Period Balm, being a CEW Beauty Creators Awards Finalist.
Rebecca Walser, President of Walser Wealth Management, joins Cheddar News to dissect how an investor can optimize their investments by embracing technical analysis.
Markets opened higher after the Dow and S&P 500 closed at record highs on Tuesday. It comes amid a slew of strong corporate earnings reports. Frances Newton Stacy, Director of Strategy, Optimal Capital, joined Cheddar's Opening Bell.
