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.”
U.S. stocks pushed further into record heights on Friday following an encouraging report on hiring across the country.
Inspired by the framework of the Paris Climate agreement, the Crypto Climate Accord (CCA) is just one industry effort to spread the message that crypto should rise to the challenge.
The number of Americans applying for unemployment benefits fell to a fresh pandemic low last week, another sign the job market is healing after last year’s coronavirus recession.
Stocks wound up a mixed bag on Wall Street Thursday, but big gains in several technology giants helped push the S&P 500 and the Nasdaq indexes to more record highs.
The Federal Reserve made official on Wednesday its plan to wind down the aggressive monthly bond-buying program that has defined the central bank's pandemic response.
The $6.2 billion wholesale harvest value of cannabis surpassed that of staples like cotton, rice, and peanuts, according to a new report from Leafly.
Stocks climbed to more record highs Wednesday after the Federal Reserve said it will begin dialing back the extraordinary aid for the economy it has been providing since the early days of the pandemic.
Fed watchers are expecting Jerome Powell to announce a timeline for tapering bond purchases on Wednesday afternoon following the meeting of the Federal Open Market Committee.
Facebook said it will shut down its face-recognition system and delete faceprints of more than 1 billion people.
The world’s biggest shipping company, Denmark’s A.P. Moller-Maersk, has reported a sharp rise in earnings amid strong worldwide demand for shipments of goods.
