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.”
Chris Konstantinos, Chief Investment Strategist at RiverFront Investment Group, explains why he remains encouraged about the S&P and the state of the market despite the major indexes closing mostly lower on Monday.
Worker-first platform WorkWhile has raised $13 million dollars in a Series A round led by Reach Capital. WorkWhile says it connects the right workers to the right shifts. Hourly workers can use the company's platform to choose when, where and how they want to work. WorkWhile also says it hopes to help companies address the current labor shortage in the U.S. Jarah Euston, CEO and founder of WorkWhile, joins Cheddar News' Closing Bell to discuss.
Jessi Gold, director of wellness, engagement, and outreach in the Department of Psychiatry at Washington University School of Medicine in St Louis, joins Cheddar News to discuss workplace burnout and what signs to look out for.
The new show "Million Dollar Wheels" takes Discovery+ viewers behind the scenes of what it takes to be a luxury car dealer to the stars. The star, CEO, and founder of Wires Only, a full-service luxury automotive, aviation, and entertainment company, joined Cheddar News to talk about what to expect from the series. "The thing about this show is we've got crazy deals with the craziest clients. I'm talking Kim Kardashian, Tom Holland, Jamie Foxx, the list goes on. And they're the craziest requests you could ever imagine," he said. "And me and my team are trying to make the impossible possible, running all over the place, doing whatever it takes to close these deals."
Actor Tom Holland has been dominating the movie scene lately with two of the top three films in the box office this past month. The star drew in the ticket sales with his roles in "Spider-Man: No Way Home" and "Uncharted."
