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.”
German vaccine maker BioNTech unveiled plans Wednesday to establish manufacturing facilities in Africa that would boost the availability of much-needed medicines on the continent.
Americans are opening their wallets to celebrate romance - and a lot of them are looking for experiences. Junior's Restaurant famous for its cheesecake, is celebrating the holiday by offering vow renewals and weddings at its flagship location in Brooklyn, NY. Cheddar News spoke to owner and "minister" Alan Rosen to find out more.
Stocks shook off an early slump and ended mixed on Wall Street Wednesday after minutes from the Federal Reserve’s latest meeting showed policymakers still leaning toward moving decisively to fight inflation.
Wholesale inflation in the United States surged again last month, rising 9.7 percent from a year earlier in a sign that price pressures remain high at all levels of the economy.
Mexico’s president said Monday the U.S. suspension on avocado imports and recent environmental complaints are part of a conspiracy against his country by political or economic interests.
