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.”
Brian Stewart, the U.S. brand ambassador for Belvedere Vodka, joined Cheddar News to show off the cocktail called the Belvedere Raspberry Circuit to pair with the Formula 1 Miami Grand Prix, a race getting underway for the very first time on May 8. “I wanted this drink to be very approachable, but I also wanted to drink to be as luxurious and exciting as the race itself," he said.
The ongoing war in Ukraine and the Fed's hawkish stance toward reining in inflation might be causing a frenzy among investors. Craig Erlam, a senior market analyst at foreign exchange OANDA, joined Cheddar News to talk about the current "mixed bag" markets. "It's hard to read too much into it. These are just the market conditions we have right now," he said. "Ultimately we're a little directionless at times overall, but these intraday moves are causing a lot of volatility this week."
Erin Bause, Chef and Owner of Bause Catered Events, joins ChedHer to discuss catering major life events and how her team pivoted their business during the pandemic.
Heather Hartnett, Ceo & General Partner at Human Ventures, joins ChedHer to discuss the mission behind Human Ventures and why she's investing and backing female founders in the health and wellness space.
Catching you up on what you need to know on April 29, 2022, with President Biden asking Congress for a $33 billion aid package for Ukraine, a shrinking GDP potentially leading to a recession, Beijing banning weddings and funerals while closings schools amid COVID, and more.
Airbnb will allow its employees to live and work almost anywhere around the world, fully embracing a remote work policy to attract staff and ensure flexibility.
