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.”
An eye-opening report on inflation that was hotter than expected slammed into the bond market on Wednesday, sending yields jumping, and helping knock stocks lower.
Rapper and fashion mogul Ye's high-end clothing company Yeezy agreed Monday to pay $950,000 to settle a lawsuit brought by four California district attorneys over slow shipping to customers.
Robinhood said Monday that it suffered a security breach last week where hackers accessed some personal information for roughly 7 million users and demanded a ransom payment.
Stocks ended moderately lower on Tuesday, ending an eight-day winning streak for the market that had been fueled by strong company earnings and economic data.
The U.S. has fully reopened its borders with Mexico and Canada and lifted restrictions on travel that covered most of Europe.
Tesla shares slumped more than 4% in premarket trading on Monday after its CEO Elon Musk said he would sell 10% of his holdings in the electric car maker based on the results of a poll he conducted on Twitter over the weekend.
Stocks notched some modest gains on Wall Street Monday, enough to mark more record highs for major U.S. indexes.
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.
WarnerMedia posted solid quarterly results with revenue surpassing $8 billion as its entertainment business continues to boom. The media and entertainment giant saw wild success with its HBO Max division, which reached nearly 70 million subscribers globally. To discuss the company's strategy for success, Cheddar senior reporter Michelle Castillo spoke to WarnerMedia CFO Jennifer Biry.
America’s employers stepped up their hiring in October, adding a solid 531,000 jobs, the most since July and a sign that the recovery from the pandemic recession may be overcoming a virus-induced slowdown.
