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.”
Your palm could soon be your ticket into a concert. Amazon says it is bringing its palm-recognition technology to the Red Rocks Amphitheatre in Denver and it will be available at other venues in the coming months.
Massachusetts’ governor has activated the state’s National Guard to help with busing students to school as districts across the country struggle to hire enough drivers.
Amazon is looking to offer an average starting wage of more than $18 per hour to fill some transportation and fulfillment roles, with some of the positions receiving up to $22.50 hourly.
Stocks went back to falling on Wall Street Tuesday after a blip higher the day before, giving the S&P 500 its sixth loss in the last seven trading days.
If you want to dine indoors, go to a gym or attend an event at an entertainment venue in New York, you'll need to show proof that you have had at least one dose of a COVID-19 vaccine.
"The business has gone down at least 35 to 40 percent, and we expect it to go down a little more," said Pedro Zamora, owner of Cantina Rooftop in Manhattan. "But on the other hand, I feel good to do that because it's the way to end the pandemic, and I urge everyone if you aren't vaccinated to get vaccinated as soon as possible because it's only for the good of our community."
Invitae CEO Sean George joins Cheddar News' Closing Bell to discuss the company's acquisition of Ciitizen for $325 million, and how its patient data platform will provide even better results for both patients and their doctors. Invitae works to aggregate results from the world's genetic tests into a single, easy-to-use service, and Ciitizen's global data platform will help Invitae become a health technology and software leader.
The CEO of Salesforce said the company will help employees leave Texas, and he did so while retweeting a story linking the offer to concern about Texas’ new anti-abortion law.
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.
Bitcoin officially became legal tender in El Salvador on Tuesday despite international skepticism and pushback. Measuring the success of that experiment requires looking at one of the main indicators in El Salvador's economy: remittances.
Stocks gave up an early gain and turned lower Friday, remaining on track for weekly losses in this holiday-shortened week.
