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.”
Sales of new homes rose a modest 1% in July after a string of declines while new home prices set records.
McDonald’s says it has pulled milkshakes from the menu in all 1,250 of its British restaurants because of supply problems stemming from a shortage of truck drivers.
Cheddar's Jill Wagner reports on the explosion of food-allergy friendly and vegan food options, like Abe's Vegan Muffins factory in West Nyack, N.Y., that are saving kids and their parents from safety worries.
Cryptograph is auctioning NFTs of NBA legend Kobe Bryant in early career photos that had never before been made public.
Airbnb is offering free housing to 20,000 Afghan refugees globally and sought more assistance from hosts who rent property through the home-sharing company.
Stocks closed modestly higher on Wall Street Tuesday, enough to nudge the Nasdaq composite to a record high and past 15,000 for the first time.
Stocks closed higher on Wall Street Monday, allowing the S&P 500 to regain the ground it lost last week and bringing it just shy of another record high.
General Motors is recalling all Chevrolet Bolt electric vehicles sold worldwide to fix a battery problem that could cause fires.
The Taliban's return to power in Afghanistan as the U.S. withdraws is presenting new issues and challenges for social media platforms like Facebook and YouTube.
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.
