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.”
Amazon says it plans to open a clothing store in a Southern California mall later this year, a first for the online behemoth and a fresh challenge for already struggling traditional retailers.
The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant disrupted the job market.
Stocks ended sharply lower on Wall Street Thursday, and the benchmark S&P 500 closed at a three-month low as corporate earnings and inflation continued to hold investors’ attention.
Starbucks is no longer requiring its U.S. workers to be vaccinated against COVID-19, reversing a policy it announced earlier this month.
Crews are making railroad repair in Los Angeles after a train derailed near the location where thieves have been raiding cargo containers, leaving the tracks littered with empted boxes of packaged goods sent by retailers.
Stocks continued to fall on Wall Street Wednesday as investors review the latest corporate earnings and prepare for higher interest rates.
A Rome villa containing the only known ceiling painted by Caravaggio is going back on a court-ordered auction block after no apparent winning bids were entered.
AT&T and Verizon say they will delay some new 5G wireless service after the airline industry raised alarms about potential interference with important systems on planes.
Stocks fell to a new low for the year on Wall Street Tuesday and bond yields surged amid renewed jitters the Federal Reserve will lift interest rates to tackle rising inflation.
Microsoft is paying nearly $70 billion for Activision Blizzard, the maker of Candy Crush and Call of Duty, as it seeks an edge in the fiercely competitive businesses of mobile gaming and virtual-reality technology.
