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.”
As we celebrate Black History Month, Cheddar is highlighting prominent Black Americans who are carving their own historic paths and trailblazing in their fields. Today we feature media mogul Byron Allen.
Tesla is recalling nearly 579,000 vehicles in the U.S. because a “Boombox” function can play sounds over an external speaker and obscure audible warnings for pedestrians.
Stocks closed lower on Wall Street Monday as the U.S. moved to close its embassy in Ukraine amid heightened geopolitical tensions over the thousands of Russian troops that have been amassing on the border.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
As Super Bowl LVI shapes up to be the biggest gambling event in sports history, restaurants and bars are looking to get in on the rapidly growing world of legalized sports betting.
A rocket startup's big launch debut at Florida's Cape Canaveral has ended with all four mini-satellites destroyed.
SpaceX's Elon Musk says the first orbital flight of his towering Starship could come in another month or two.
Stocks tumbled again Friday, and this time bond yields joined in the swoon as worries about an imminent Russian invasion of Ukraine piled onto Wall Street’s already heavy list of concerns about inflation and interest rates.
The truck blockade at the U.S. border by Canadians protesting the country’s COVID-19 restrictions is tightening the screws on the auto industry, forcing Ford, Toyota and General Motors to shut down plants or otherwise curtail production.
Inflation was hotter than expected in January, but the debate over what this means for the economy is getting even hotter as markets brace for a flurry of Fed rate hikes in 2022.
