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.”
Svetlana Mitsuko Delous, dancer and aerial artist with Cirque Du Soleil, joins Cheddar News to talk about the return of the OVO show at the Microsoft Theater in Los Angeles this March.
Retired gymnast Nia Dennis went viral last year after a video of her gymnastics floor routine highlighting Black excellence gained traction on social media. Now the athlete and UCLA graduate is partnering with juice and plant-based foods company Pressed to promote health and wellness in the new year. "They have helped me start this year off strong and start living a healthier lifestyle," she said.
Microsoft has discontinued the Xbox One as it looks to focus on ramping up production for its current Xbox Series S and Xbox Series X. The Xbox One first hit the market in November 2013.
M&T Bank rang the Opening Bell at the New York Stock Exchange Thursday morning as the company celebrated a milestone of opening 100 new multicultural banking centers. David Femi, head of multicultural banking, joined Cheddar to discuss the culturally inclusive expansion as part of the bank's overarching goal to increase financial access in racially and ethnically diverse communities. "By designating branches as multicultural is just one way for us to be intentional in making sure, that number one, when [customers] come into these branches, they see people that look like them, they see people that speak their language," he said.
Tesla has scrubbed any mention of its Cybertruck being released in 2022 from its website after the company delayed production last year. The EV maker is slated to begin manufacturing the electric truck at its Austin, Texas, facility, to open early this year.
Baby formula is among the latest products becoming more difficult to find in stores. Retailers are pointing the finger at manufacturers for the lack of supply, but brands like Enfamil argue that retailers are the ones unable to allocate the product properly and stock their shelves.
