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.”
The number of Americans applying for unemployment benefits rose for the third straight week, a sign that the highly contagious delta variant may be slowing the job market’s recovery.
Despite China's cryptocurrency crackdown, many in the industry are making the case that crypto's demise is not yet a done deal in the world's second-largest economy.
Even as the number of Hispanic-owned businesses in the U.S. has rapidly increased, support from banks has lagged behind. Cheddar's Michelle Castillo reports on the ongoing challenges for some business owners who may also be dealing with the issue of being undocumented.
Stocks ended a wobbly day with mixed results on Wall Street Wednesday as the market regrouped following a sharp drop a day earlier.
Technology companies led a broad slide in stocks on Wall Street Tuesday as investors reacted to a surge in U.S. government bond yields.
“Dear Evan Hansen” may have been a hit on Broadway, but the filmed adaptation of the Tony-winning show is off to a slow start at the box office in its first weekend in theaters.
Lines of cars formed at British gas stations for a fourth day on Monday, as the government mulled bringing in the army to help ease supply disruption triggered by a shortage of truck drivers.
Instagram is putting a hold on the development of Instagram kids, geared towards children under 13, so it can address concerns about the vulnerability of younger users.
Stocks wound up a mixed bag on Wall Street Monday as losses for several Big Tech companies checked gains elsewhere in the market.
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.
