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.”
Alison Whritenour, CEO of Seventh Generation, a Unilever brand of home care that focuses on sustainability and green initiatives, joined Cheddar News to talk about the push to put sustainability at the forefront of its product line. "One of the biggest things that we're driving right now is concentration, and so making sure that consumers — while they're re-adapting to their lifestyle post-pandemic and continuing to make choices that suit their home — know that there's a better for you less waste option available," she said about its more highly-concentrated cleaning solutions.
The new Netflix documentary "White Hot: The Rise & Fall of Abercrombie & Fitch" dives into how the once apparel retailer used an exclusionary business model, focusing on the "popular and cool kids," to thrive for years until its discriminatory culture and practices led to a consumer backlash. Anthony Ocampo, a professor of sociology at Cal Poly Pomona and former Abercrombie & Fitch employee, and Ben O’Keefe, a social change activist and head of diversity and impact production at Creator+, discussed the film and the retailer's rebranding in light of many allegations brought against it. "I got a job at Abercrombie & Fitch, and I worked there for a couple of weeks. But then when I went back to that same store after the academic year ended to get my job back, I was told by someone, I'm sorry, we can't rehire you because we already had too many Filipinos working at this store," Ocampo said.
Mark Murrell, founder and CEO of Get Maine Lobster, joins Cheddar News to discuss the launch of the company's NFT, which is inspired by a cotton candy lobster named Haddie.
Brittan Heller, founder of the Center for Digital Civil Rights and a fellow at the Atlantic Council, joins Cheddar News to discuss the rise of sexual assault in the metaverse.
The second-largest stablecoin, USDC, backed by the company Circle recently received a $400 million funding infusion from traditional financial firms like BlackRock and Fidelity even as crypto reels from more high profile heists.
A group of Tesla shareholders suing CEO Elon Musk over some 2018 tweets about taking the company private is asking a federal judge to order Musk to stop commenting on the case.
A container ship the length of more than three football fields has finally been pried from the muddy bottom of the Chesapeake Bay more than a month after it ran aground.
Stocks closed slightly lower after a wobbly day of trading Monday as worries about rising interest rates and high inflation keep a lid on Wall Street despite some better-than-expected profit reports from banks.
