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.”
Omicron is on course to become the dominant COVID strain in the U.S., even as Delta is causing another spike in cases. According to Johns Hopkins University data, cases across the country are up 40% from last month, with New York City as a major hotspot. Outbreaks are now causing Broadway performances to be canceled, colleges and universities to shift to online classes, sports leagues to postpone games, and more. Dr. Jen Caudle, family physician and associate professor at Rowan University, joined Cheddar to discuss the surge in cases and how we can best protect ourselves against the new variant.
As supply chain issues continue to impact holiday shopping, many consumers are discovering that certain items are harder to find and are more expensive than in past years. However, secondary market platforms are one solution to that problem, offering shoppers an alternative place to find their favorite gifts. Jesse Einhorn, StockX senior economist, joined Cheddar to discuss how are platforms like StockX are a viable way for shoppers to avoid supply chain delays this holiday season.
Airline executives faced tough questions from Congress on Wednesday, with the Senate panel grilling top CEOs on how they used that $54 billion Covid-19 government lifeline.
This hearing comes as airlines continue to face staffing shortages and widespread delays. Jason Ader, Leisure Analyst and CEO of SpringOwl Asset Management joined Cheddar's Opening Bell to discuss.
Cockroach Labs Chief Product Officer Nate Stewart joined Wake Up With Cheddar to break down the company's Series F funding and the opportunities for growth it helps open up.
Airline executives faced tough questions from a Senate panel on Wednesday after receiving a $54 billion dollar Covid-19 government lifeline. Congress approved the fund in three rounds covering much of US airlines’ payroll costs for 18 months. During the hearing lawmakers asked CEO’s how they used the federal bailout funds, about staffing issues, flight cancellations, and delays. U.S. airlines reported a record $35 billion dollar loss last year when travel came to an abrupt halt because of the pandemic. Michael Boyd, CEO at the Boyd Group International explains why customers may not be returning to the skies quite so soon.
Senior Global Market Strategist at Wells Fargo Investment Institute Scott Wren joined Wake Up With Cheddar to recap the central bank's policy change, and how it may impact the economy moving forward.
Carlo's joined by a quarantining Baker to discuss the headlines from the weekend as Omicron spreads like wildfire, Manchin kills Biden's signature bill and Spider-Man throws a lifeline to the box office.
