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.”
Cheddar News visited the Amazon Fulfillment Center in Robbinsville, New Jersey and spoke to Amazon global communications director Rena Lunak to learn more about how its prepared for the supply chain crunch this holiday season.
Despite missing estimates on job gains by a wide margin, the November 2021 jobs report from the Labor Department shows an economy trudging along toward its pre-pandemic state.
Wall Street closed out a bumpy week with more losses on Friday following a mixed reading on U.S. jobs markets that investors said was tough to parse. The S&P 500 gave up an early gain and closed 0.8% lower.
Extreme weather and supply chain disruptions have reduced supplies of both real and artificial trees this season.
Major League Baseball plunged into its first work stoppage in a quarter-century when the sport’s collective bargaining agreement expired and owners immediately locked out players in a move that threatens spring training and opening day.
A month after Facebook changed its name to Meta, Square Inc. is changing its name to Block.
Stocks rose broadly on Wall Street Thursday as investors continue to monitor the spread of the new coronavirus variant as well as measures that the U.S. and other governments are taking to restrain it.
President Nayib Bukele announced last week that the Central American country plans to issue the world's first "Bitcoin bond" early next year.
Cheddar News visited the Amazon Fulfillment Center in Robbinsville, New Jersey and spoke to Amazon global communications director Rena Lunak to learn more about how its prepared for the supply chain crunch this holiday season.
Markets turned cautious again, erasing and early gain and ending lower as investors try to handicap how much the new coronavirus variant will impact the economy.
