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.”
Two years after the pandemic began, vaccines are widespread, but COVID-19 treatments aren't as plentiful. RedHill Biopharma is working to change that with its easy-to-take coronavirus treatments — which come in pill form and treat cases ranging from mild to severe. Guy Goldberg, Chief Business Officer at RedHill Biopharma, joins Closing Bell to discuss the company's two COVID-19 treatments in trial, pricing once the drugs are widely available, the company's latest earnings results, and more.
Christopher Wolfe, CIO at First Republic Private Wealth Management, joins Cheddar News' Closing Bell, where he says he is surprised that the first quarter was the first down period in a long time, but adds that the second quarter could be difficult with a lot of volatility expected.
Jeffrey Small, President of Arbor Financial, joins Chedar News' Closing Bell, where he breaks down why stocks closed near session lows on Wednesday and tells viewers what to expect ahead of next earnings season.
Almost every industry now uses online shopping and ordering, but some products require a different packing material, and many times, shipping products can be wasteful. TemperPack aims to solve both issues with its ClimaCell liners, which you might recognize if you have ever ordered a meal subscription kit. Brian Powers, co-founder and Chief Growth Officer at TemperPack, joins Closing Bell to discuss TemperPack's ClimaCell liners, the company's sustainability mission, its corporate customer base, and more.
Uber and Lyft drivers are cruising in Washington State, the first U.S. state to set an earnings standard for drivers for the ride-hailing companies. Governor Jay Inslee signed the new minimum pay standard into law Thursday, which also gives drivers access to perks like paid sick time and family medical leave. John Logan, Director of Labor and Employment Studies at San Francisco State University, joins Cheddar News' Closing Bell to discuss.
Carsten Koerl, CEO of Sportradar, joins Cheddar News' Closing Bell, where he explains how his company is bolstering the platforms of sports betting and streaming networks, and discusses basketball legend and Sportradar investor Michael Jordan's role in helping the company grow.
A new NFT network claims it is disrupting the art market, and is doing so by following in the footsteps of art legends Andy Warhol and Jean-Michel Basquiat. Tripsters says it is creating a new and revolutionary concept in the NFT space, by allowing users to combine two NFTs in order to create a new third NFT. Tripsters says the feature will be compatible with multiple NFT collections in the future, but the first Tripsters' airdrop will be compatible with the Bored Ape Yacht Club collection. Jayson Winer, co-founder of Tripsters, and Oskar Kowalski, a senior advisor for the startup, join Cheddar News' Closing Bell to discuss.
Dimitri Dadiomov, CEO and Co-Founder of Modern Treasury, joins Cheddar News' Closing Bell, where he elaborates on how his firm plans to deploy its latest dose of funding and how Modern Treasury is working with banking giants like JPMorgan and Citi to help businesses move money more confidently.
Just a week after talks of him starting his own social media platform, Tesla CEO Elon Musk purchased a 9.2 percent stake in Twitter. The stock by resulted in a price surge for both Twitter and Tesla stocks, but questions are swirling about how much of an active stake this will be for the controversial figure who's had a fraught relationship with the platform over the years. Dan Ives, the managing director of equity research at Wedbush, joined Cheddar News to discuss. "I think this is a start of what's gonna really be a soap opera with Musk, either getting on the board or forcing significant strategic changes at Twitter," he noted.
