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.”
The Federal Reserve launched a high-risk effort to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year.
Lisa Whalen, managing director of automotive and mobility analysis at Morning Consult, joins Cheddar News to discuss Uber and Lyft's decision to enact price surcharges on riders.
With a zero-covid policy in China, country officials are imposing lockdowns in the region in an attempt to control the spread. With China being home to about one-third of global manufacturing, these lockdowns are wreaking havoc on the already fragile supply chain, causing disruption to production of phones and cars alike. Suketu Gandhi, Supply Chain Partner at Kearney joined Cheddar's Azia Celestino to discuss.
Brian Napack, President & CEO of Wiley, discusses the ways COVID-19 and remote learning is impacting growth, and talks about how Wiley is capitalizing from the trends seen in their corporate clients.
Markets opened higher this morning as oil prices fall and investors await a decision from the Federal Reserve. Keith Fitz-Gerald, Chief Investment Officer, Fitz-Gerald Group joined Cheddar's Opening Bell to discuss.
Tommy Mancuso, President & Co-Founder of the BAD Investment Company, talks about the likelihood of the Fed decision's decision triggering a recession and the war Ukraine is impacting U.S. investors.
