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.”
Chad Oviatt, Director of Investment Management at Huntington National Bank, breaks down the impact of the inflationary pressure on consumer sentiment and highlights areas of growth going forward.
Wholesale prices rose 9.7% year-over-year in January, yet another sign of rising inflation. This comes as inflation continues to push higher, the Fed considers hiking interest rates, and the conflict in Ukraine threatens to raise the costs of living in the U.S. even higher. John Leer, chief economist at Morning Consult joined Cheddar for more insight.
Texas is suing Meta over its use of facial recognition. Attorney General Ken Paxton filed a lawsuit against the social media giant, alleging it illegally collected data on users without their consent, violating the state's privacy laws. Daniel Newman, Futurum Research founding partner & principal analyst, breaks down Texas' allegations and what it means for Meta moving forward.
David Mazza, Managing Director & Head of Product at Direxion, joins Cheddar News to discuss how traders and investors can start planning for volatility, and ways to use leveraged and inverse ETFs during these volatile times.
Jeff Powell, Managing Partner and Chief Investment Officer at Polaris Wealth Advisory Group, joins Cheddar News' Closing Bell, where he says the market was looking for - and received - a little bit of relief when it came to the geopolitical conflict between Russia and Ukraine.
Nikil Viswanathan, Co-Founder and CEO of Alchemy, joins Cheddar News' Closing Bell, where he says his company has tripled its business over the past several months and that it will be heavily investing into global expansion following its $200 million funding round.
Swedish electric motorcycle maker Cake says its mission is to inspire society to adopt a zero-emission lifestyle. The company admits this is a lofty goal that covers a lot of ground - so it's starting with the world of urban mobility and last-mile deliveries. The company also has an agreement in place with NorthVolt to continually improve the environmental impact of batteries for electric vehicles. Stefan Ytterborn, Founder & CEO of Cake, joins Cheddar Climate to discuss.
One retailer and publicly-traded company says it is on a mission to inspire a new generation of consumers to think secondhand - first. thredUP is one of the world's largest resale platforms for women's and kids' apparel, shoes, and accessories. The company says it is changing the way consumers shop and ushering in a more sustainable future for the fashion industry. Anthony Marino, President of thredUP, joins Cheddar Climate to discuss.
The fashion industry relies on trends and consumerism, and collections have historically been produced in a seasonal cycle. But in recent years, fast fashion has led to a higher turnover of collections and has created massive industry waste. As designers at New York Fashion Week tout their sustainable practices, has the industry fully committed to lessening its waste and potentially cutting back on production? Amy Odell, fashion journalist & author of 'ANNA: The Biography,' joins Cheddar Climate to discuss how the fashion industry is incorporating sustainable practices (or not), any potential accountability measures including the New York State Fashion Act, and more.
