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.”
Saving for retirement is more important than ever as inflation lingers, but more Americans are anxious about their ability to do so. A new survey by Schroders shows that many people say they need just over a million dollars to retire comfortably — but only about one-quarter of respondents said they were likely to meet that goal. So, what should people do to retire safely? Joel Schiffman, head of intermediary distribution for North America at Schroders, joins Closing Bell to discuss the survey results, best practices for retirement planning, why a certain percentage of Americans actually plan to work while retired, and more.
Hatem Dhiab, Managing Partner at Gerber Kawasaki, explains how investors can pick up clues on the tech giant's direction by honing in on new offerings like Apply Pay Later and a pair of new MacBook computers.
U.S. stocks close Monday's session slight higher Monday as investors continue to monitor whether the economy will successfully avoid a recession. For many, fears over inflation and rising interest rates. Tommy Mancuso, president and co-founder of the Bad Investment Company, joins Cheddar News' Closing Bell to discuss.
Alex Adelman, CEO and Co-Founder of bitcoin rewards platform Lolli, joins Cheddar News' Closing Bell, where he says that 'incompetent, lazy politics' are behind the push for a crypto mining bill that would implement a two-year moratorium on digital currency mining at fossil fuel power plants in New York. Adelman also explains why this action is contributing to crypto miners leaving the state.
Babylist is an online baby registry for expecting and new parents, who can use the platform to share what they would like to receive as gifts to celebrate their baby's birth. The company also operates as an e-commerce and content platform for baby products, saying it aims to be a one-stop solution for parents, family, and friends to buy best-in-class baby products at what is a critical and deeply personal moment in their lives. Natalie Gordon, founder and CEO of Babylist. joins Cheddar News' Closing Bell to discuss.
One of the hottest stocks in the news, not for its price but mostly due to its maybe pending acquisition by Elon Musk, is Twitter. Cheddar's Ken Buffa goes in-depth into why the trials and tribulations of the social media platform, currently being accused by the Musk of holding back information on spam accounts, make it the stock of the day.
Apple's Worldwide Developers Conference on Monday provided announced updates for iOS 16, edits to iMessages, an “ApplePay Later” plan, which will allow users to stretch out their payments over four weeks, and new Macbooks. However, the anticipated news for realityOS, software for an augmented and virtual reality headset, did not make the cut. Cheddar News anchor Michelle Castillo had all the details about what to expect from tech giant.
