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.”
Anthony and Janique Edwards app EatOkra, one of the top 15 on Apple's App Store in 2021, is hoping to elevate Black-owned restaurants like Brooklyn's Kokomo. Cheddar's Michelle Castillo reports.
As we celebrate Black History Month, Cheddar is highlighting prominent Black Americans carving their own history. now. Today we feature Rosalind Brewer, CEO of Walgreens.
Stocks slumped and bond yields moved sharply higher after a hot reading on inflation led to greater expectations that the Federal Reserve will have to move forcefully to cool down the economy.
Inflation soared over the past year at its highest rate in four decades, hammering America’s consumers, wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates.
SpaceX's newest fleet of satellites is tumbling out of orbit after being struck by a solar storm.
The gambling industry’s national trade group estimates a record 31.5 million Americans plan to bet on this year’s Super Bowl.
Hyundai and Kia are telling the owners of nearly 485,000 vehicles in the U.S. to park them outdoors because they can catch fire even if the engines are off.
Apple said Tuesday it is expanding the iPhone's capabilities to accept contactless payments, making it easier for merchants to conduct tap-to-pay transactions without having to buy additional hardware.
Stocks closed broadly higher on Wall Street Wednesday, putting the market further into the green for the week after a solid gain a day earlier.
The House Financial Services Committee on Tuesday held a hearing to discuss potential regulations for stablecoins.
