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.”
A new report from the Motion Picture Association highlights how the popularity of streaming services has helped the film industry recover from the pandemic. Matthew Belloni, the host of "The Town" podcast and founding partner of Puck News, joined Cheddar News to discuss the impact of streaming on Hollywood. "For all but the largest tent-pole style blockbuster movies, the future probably is streaming," he said.
Erika Nardini, CEO of Barstool Sports, joined Cheddar News senior reporter, Michelle Castillo at South by Southwest to talk about Barstool Sportsbook and the NCAA March Madness tournaments. "What we really believe is that there's going to be the next generation of sports bettor, [who] will follow sports the way Barstool Sports follow sports," she said. "They'll like winners. They'll like losers. They'll like the storylines. They'll like the drama with the fans.”
The movie theater chain and meme stock, AMC, bought a major share of Hycroft Mining Holding. The transaction makes AMC a 22 percent owner of the gold and silver mining company.
Twitter is pulling back its latest change after receiving major pushback from users. The feature pushed the user timeline experience onto a "home" feed that used individualized algorithms for displaying tweets rather than posting them in chronological order.
Cheddar catches up with Lior Keet, EY Emerging Technology Managing Director, at South by Southwest to discuss what's on the minds of today's tech leaders, and how IT can play a role in an organization's ESG agenda.
