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.”
Federal Reserve Chair Jerome Powell told lawmakers on Tuesday during his confirmation hearing that it is time to wind down the central bank's aggressive pandemic-era policies.
Stocks closed higher on Wall Street Tuesday as technology companies rebounded after an early loss.
Take-Two Interactive, maker of "Grand Theft Auto" and "Red Dead Redemption," is buying Zynga, maker of "FarmVille" and "Words With Friends," in a cash-and-stock deal valued at about $12.7 billion.
Stocks ended slightly lower on Wall Street Monday after recouping much of an early slide.
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.
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Losses widened at Bed Bath & Beyond as a tangled global supply chain continued to squeeze sales and the home goods chain lowered expectations for its final fiscal quarter, and also its full-year revenue.
U.S. employers added a modest 199,000 jobs last month while the unemployment rate fell sharply, at a time when businesses are struggling to fill jobs with many Americans remaining reluctant to return to the workforce.
Europe's sky is filling up with near-empty flights that even airlines admit serve no purpose except securing valuable time slots at some of the world's biggest airports.
Stocks ended lower on Wall Street Friday and Treasury yields rose as investors anticipated the Federal Reserve will stay on course to raise interest rates as soon as March.
