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.”
As U.S. cities and airlines are weighing COVID-19 protocols like mask and vaccine mandates, Canada continues to ban travelers who are not fully vaccinated -- including professional athletes. The MLB season is now underway, and the Toronto Raptors have advanced to the NBA playoffs, so several athletes are expected to not participate in upcoming games in Canada. Gabe Lacques, MLB reporters and Baseball Editor for USA Today Sports, joins Cheddar News' Closing Bell to dsicuss.
Stocks closed mixed Wednesday as investors digested the latest earnings reports, in particular Netflix, which weighed on the tech-heavy Nasdaq. Netflix's quarterly results were disappointing — the streaming giant reported its first quarterly subscriber loss in a decade. Kevin Nicholson, Global Fixed Income CIO at RiverFront Investment Group, joins Closing Bell to discuss today's close, what investors are keeping an eye on, how the Federal Reserve could try to tame inflation, and more.
Stocks shed early gains and closed broadly lower on Wall Street Thursday after the head of the Federal Reserve said the central bank needs to take more aggressive action to fight high inflation.
Sallie Krawcheck, CEO and co-founder of Ellevest, joins Cheddar News' Closing Bell, where she explains how her firm is meeting the demand of women in the workplace who are looking to make and save more money.
Bence Jendruszak, COO and Co-Founder of SEON, joined Cheddar News' Closing Bell, where he says his platform sees more victims of online fraud during economic downturns, but explains why his company's solution can stop that trend.
Andrew Miller, Chief Operating Officer at Benchmark Mineral Intelligence, joined Closing Bell to discuss the warning from Rivian's CEO about a possible EV battery shortage due to lack of access to key metals like lithium.
While the push for sustainable fashion has been gaining traction, traditional swimwear is often still made with toxic plastic fibers. Natalie Herzig joins Cheddar News to explain how her brand Argot Swim is sustainable from sourcing to shipping.
