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.”
Corporate earnings will continue to dominate the conversation in the business world next week, while a Big Oil hearing will discuss the role oil companies play in climate change and disinformation.
Sean O'Hara, President of Pacer ETFs, joins Cheddar News' Closing Bell, where he points to Amazon for why the major indexes closed mostly higher Friday, and provides insight on which sectors investors should be buying into right now.
The Rams will technically be the road team for Super Bowl LIV despite the event being play at their home venue, Sofi Stadium. Why? Because the league alternates which conference's team is designated as home, and this year, it's the Bengals turn. Cody Roark, NFL Analyst for Pro Football Network, joins Cheddar News' Closing Bell for some more Super Bowl nuggets and discusses what viewers should watch for when the game kicks off.
Jarrod Loadholt, Partner at Ice Miller, joins Cheddar News' Closing Bell, where he breaks down the latest proposal by the SEC and explains how it could allow the agency to make major regulatory moves within the cryptocurrency space if approved.
Personal data platform Caden raised $3.1 million in pre-seed funding. Caden says its service allows users to have complete control over their data and earn a profit from it by sharing certain data with trusted brands, while never relinquishing ownership. The company also says its goal is to transform the internet and the use of personal data and make a better system for both consumers and brands. Caden founder and CEO John Roa joins Cheddar News' Closing Bell to discuss.
