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.”
New Zealand’s government has taken drastic action by putting the entire nation into a strict lockdown after finding a single case of coronavirus infection in the community.
Americans cut back on their spending last month as a surge in COVID-19 cases kept people away from stores.
Stocks closed lower on Wall Street Tuesday, ending a five-day winning streak by the S&P 500, as investors turned cautious amid more signs that the coronavirus pandemic is still holding back the U.S. economy.
Senior Analyst from The Motley Fool Jason Moser joins Closing Bell to discuss headwinds and tailwinds for Disney ahead of their third quarter fiscal earnings results.
The U.S. government has opened a formal investigation into Tesla’s Autopilot partially automated driving system after a series of collisions with parked emergency vehicles.
Stock indexes closed at record highs on Wall Street Monday, despite rising coronavirus infections in the U.S. and around the globe, as well as geopolitical concerns in Asia.
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.
Stocks managed to eke out tiny gains after another day of wobbly trading, leaving the S&P 500 higher for the second week in a row.
Collapse of Afghanistan, Future of Fast Food & Britney Gets a Win
The Walt Disney Co. turned a profit in its most recent quarter as reopened parks provided a revenue bounce.
