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.”
Russia's invasion of Ukraine is coming for the global food supply. Ongoing tensions in the region are threatening the supply of various agricultural products including wheat, barley and corn. Vladik Rikhter, CEO & Cofounder of Zenput joined Cheddar's Opening Bell to discuss how this could impact food prices overseas.
Aaron Easterly, CEO of Rover, discusses the factors that led to Rovers YOY growth and how the potential uptick in travel and commuting will affect Rover for the remainder of the year.
Peter Andersen, Chief Investment Officer at Anderson Capital Management, discusses the ramifications of Europe reducing dependence on Russian oil and how the Fed may respond to rising interest rates.
U.S. markets opened mixed on reports that Biden could announce a ban on Russian oil as soon as today. Robert Cantwell, Founder and Portfolio Manager at Upholdings joined Cheddar's Opening Bell to discuss.
President Biden issued his first executive to begin determining how the United States will move forward on digital currencies. Charlotte Principato, a financial services analyst for Morning Consult, joined Cheddar News Wrap to discuss. "What this executive order says is that crypto is mainstream," she said. "The United States has put our hat in the race to create a central bank digital currency and one with the power of the U.S. dollar behind it, so I think it's a really exciting time for both the cryptocurrency and the digital asset world."
Chris Natividad, CIO of EquBot, joins Cheddar News' Closing Bell, where he elaborates on what ultimately dragged the Dow, S&P, and Nasdaq lower on Tuesday and discusses how investors are reacting to rising oil prices and February CPI data coming out later this week.
One NFL player got caught gambling on his own team, and now it's going to cost him. The NFL announced Monday that Atlanta Falcons wide receiver Calvin Ridley will be suspended for at least the entire 2022 season. The league said Ridley bet on NFL games during a five-day period last November. Frank Shwab, NFL and Betting Reporter at Yahoo Sports, joins Cheddar News' Closing Bell to discuss.
