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.”
Congress has created a new requirement for automakers: Find a high-tech way to keep drunken people from driving cars.
Johnson & Johnson is splitting into two companies, separating the division that sells Band-Aids and Listerine, from its medical device and prescription drug business.
Stocks closed higher on Wall Street on Friday, but still marked their first weekly loss in six weeks.
Chinese shoppers spent $139.1 billion during this year’s annual Singles’ Day shopping extravaganza, breaking last year’s record even though consumer spending slowed amid economic uncertainty during the coronavirus pandemic.
The federal government is suing Uber saying it discriminates against disabled people by charging fees when drivers have to wait for passengers to board their vehicles.
Stocks managed to close mostly higher on Wall Street Thursday, but the S&P 500 is still on track for its first weekly loss in six weeks
Biden is holding up Baltimore’s port as a blueprint on how to reduce shipping bottlenecks that have held back the economic recovery from the coronavirus pandemic
The Democrat and former police officer has since doubled down on his plans to make New York a crypto hub along the lines of Miami,
Shares in Rivian Automotive are soaring on their first day of trading, rising 37%.
Prices for U.S. consumers jumped 6.2% in October compared with a year earlier as surging costs for food, gas and housing left Americans grappling with the highest inflation rate since 1990.
