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.”
Adam Johnson, Portfolio Manager at Adviser Investments, joins Cheddar News' Closing Bell, where he explains why he believes we saw markets jump during Wednesday's session, and adds that investors have already priced in 'every possible kind of bad news we could have.'
President Joe Biden on Wednesday signed a long-awaited executive order on cryptocurrencies, striking a careful balance between highlighting the risks of digital assets and touting their potential benefits.
Stocks rallied for their biggest gain in nearly two years Wednesday as a sharp drop in oil prices eased fears that inflation was about to get worse around the globe.
McDonald’s said Tuesday it is temporarily closing all of its 850 restaurants in Russia in response to the country's invasion of Ukraine. The burger giant said it will continue paying its 62,000 employees in Russia.
The price of nickel, one of the key minerals needed to produce stainless steel and lithium-ion batteries, saw an unprecedented surge Tuesday amid fears that Western sanctions could cut off Russian supplies of the crucial commodity.
Apple on Tuesday unveiled a new version of its budget-priced iPhone that’s capable of connecting to ultrafast 5G wireless networks, an upgrade that has been available on the company’s upscale models for more than a year.
Cheddar's Michelle Castillo looks into the growth in cigar smoking that took place during the pandemic, and how supply chain woes have come to hurt this industry as well.
From doughnut shops to Christmas tree growers, small businesses are as unique as their founders. In this episode of The Deep End, Cheddar News examines how social media helped small businesses survive the coronavirus pandemic, how an e-bike company is solving the last mile solution, and how a cannabis speakeasy is preparing for legalization in New York.
Whether you like to admit it or not, we’ve all indulged in a bit of retail therapy. In this episode, Cheddar News is exploring the shopping sphere, from toy store giants mounting a brick and mortar come back to weed superstores. We’re taking a look at how e-commerce companies are helping entrepreneurs, and how one magical franchise is creating a flagship for muggles.
