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.”
Playboy released its fourth quarter and full year 2021 results, reporting an annual revenue of $247 million, up 67 percent year-over-year. The venerable lifestyle and entertainment brand had a whirlwind of a year — going public for a second time, completing three acquisitions, and growing its workforce to more than 1,100 employees, all while dealing with ongoing supply chain issues and other COVID-related challenges. CEO Ben Kohn joined Cheddar's Opening Bell to discuss the long pivot away from its legacy print product to digital. "It gives us a truly competitive advantage, especially when you think of this world we live in today with the changes to iOS last year, what you saw happen with Facebook, the lack of performance marketing," he said. "We now have an organic audience in partnership with our creators that we can market other products and services to as well."
AI-based adtech firm Adtheorent released its first earnings report as a public company Thursday after the bell. The company went public via SPAC deal in December and has since seen strong profit and revenue growth, with connected TV increasing 220 percent in Q4. Jim Lawson, CEO, AdTheorent, joined Cheddar's Opening Bell to discuss.
The February jobs report shows the U.S. added 678,000 jobs, much more than the expected 440,000. The unemployment rate dropped down to 3.8% as Covid cases have fallen sharply since their peak in mid-Janurary. William M. Rodgers III, Vice President & Director of the Institute for Economic Equity at the Federal Reserve Bank of St. Louis, joined Cheddar's Opening Bell to break down the report.
Major League Baseball has officially canceled opening day after no deal was reached between the league and its players before Tuesday's deadline. The first two series of the 2022 season were set to begin on March 31, but the players rejected the owners' 'best offer.' David Salituro, sports writer for Fansided, joins Cheddar News to discuss.
It has now been two days since Major League Baseball moved to cancel opening day games for the upcoming season. The announcement from MLB commissioner Rob Manfred came during the league's ongoing work stoppage, just the ninth in MLB history. Owners voted unanimously on December 2, 2021 to enact a lockout after the collective bargaining agreement between the league and players expired. On March 1, 2022, following over a week of daily negotiations between the two sides, and three months of on and off negotiations, the league officially canceled the first two series of the regular season. Gabe Lacques, MLB reporter and baseball editor for USA Today Sports, joins Cheddar News' Closing Bell to discuss.
Stocks around the world tumbled Friday after even a gangbusters report on the U.S. jobs market wasn’t enough to pull Wall Street’s focus off its worries about the war in Ukraine.
Employers added 678,000 jobs in February, another solid gain that underscored the economy’s robust health as the omicron wave fades and more Americans venture out to spend at restaurants, shops, and hotels despite surging inflation.
Mark Clerkin, Head of Trading at CoinList, joins Cheddar News' Closing Bell, where he elaborates on the range of features his platform offers, from investing in up-and-coming tokens to trading, and says his company is eager to partner with Block CEO Jack Dorsey on future projects.
