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.”
Growing tensions in Ukraine might soon be impacting consumers in the United States. With Russia on an invasion footing in the region, gas prices are predicted to go up 10 to 15 cents a gallon in the next coming weeks, according to Robert Sinclair, spokesperson for AAA. Sinclair joined Cheddar to break down what could happen even further. "We've been seeing prices go up, and there's been nothing that's happened to affect supplies," he said. "But it's something known as the fear tax where just the talk of something that might interfere with supplies leads to prices going up speculatively."
The end of 3G is upon us. On Tuesday, AT&T became the first major provider to disable its 3G services, and T-Mobile and Verizon plan to follow suit later this year. The shutdowns are expected to impact millions of vehicles that use 3G networks for updates, remote connection, and certain emergency and convenience features. Lance Ulanoff, the U.S. Editor-in-Chief of TechRadar, joined Cheddar's Closing Bell to discuss the ramifications of the changeover.
Sunshine Foss, co-founder of Happy Cork, joins Cheddar News to discuss her Brooklyn business providing black-owned liquor brands a space in the community.
February is usually a key time of year for the toy industry, with thousands of toys making their debut at the New York Toy Fair. Although this year's event was canceled due to the ongoing pandemic, toy makers are still pumped up to unveil their newest gizmos and gadgets. Maddie Michalik, senior editor of The Toy Insider, joins Cheddar News to break down all things toy related.
Overstock.com has seen its stock soar after reporting its earnings as one of the businesses that took advantage of the pandemic and continued to grow and announcing receiving an investment from Intercontinental Exchange Inc. (the NYSE parent company) in one of its blockchain businesses. acc As people are returning back to work and issues with the supply chair. CEO Jonathan Johnson joined Cheddar News to discuss the latest on his company's outlook, looking at ways to evolve, such as by potentially accepting cryptocurrency as a form of payment.
Smart data capture company Scandit recently announced a $150 million Series D funding round led by Warburg Pincus, propelling the company to unicorn status with a valuation of more than $1 billion. Scandit develops augmented reality and mobile computer vision technologies that tap into the cameras on smart devices. The startup's platform can be used to interact with retail items and have a more personalized experience while shopping. Scandit says its technology is also being used by industries like transportation, healthcare, and manufacturing. Samuel Mueller, co-founder and CEO of Scandit, joins Cheddar News' Closing Bell to discuss.
A new report shows nearly 240 former officials in Congress, the White House, and regulatory agencies have changed careers to work in the crypto industry.
February 20 marks what would have been Kurt Cobain’s 55th birthday, and NFT gateway Pop Legendz will be offering up a collection of rare images from a 1991 Nirvana show in Philadelphia that took places days before their monster hit album "Nevermind" was to be released. Faith West, the founder of Pop Legendz, music journalist, and the photographer who captured it on film joined Cheddar News to talk about the historic event and the NFT sales where half the proceeds will go to charities like the Trevor Project and GRID Alternatives. “I showed up at a small club, 150 people, not quite know what to expect, brought my camera, and halfway through the show I knew music history was being made," West said of the iconic evening.
Lowe’s Cos., the nation’s second-largest home improvement chain, offered an upbeat annual outlook after reporting strong fiscal fourth-quarter results that showed a still sizzling housing market.
