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.”
Netflix’s "Squid Game" has been the buzz of the entertainment world and according to Bloomberg, the series has an estimated value of $900 million to the streaming giant. So far, the film has hit number one in each country Netflix operates in.
Disney has announced that it is reworking the release schedule of its Marvel Cinematic Universe like "Black Panther 2" and "Doctor Strange in the Multiverse of Madness." The delays were reportedly attributed to production issues and the theater date selection process amid the pandemic.
Oil prices are set to soar to record highs as economists project rates of $100 per barrel with Brent Crude Options expected to hit $200 by the end of 2022.
More leaks from Facebook reported by the Wall Street Journal allegedly show that the social media giant's employees had very little confidence in the artificial intelligence moderation. Reportedly, it was unable to discern racist rants, first person shooter videos, and other problematic content.
Gene Goldman, Chief Investment Officer at Cetera, spoke about market trends in the airline industry in the midst of multiple airline delays and widespread staffing issues. Third quarter bank earnings were also discussed.
