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.”
A cargo ship has broken into two pieces after running aground in a northern Japanese port and is spilling oil into the sea.
Major U.S. stock indexes shook off a weak start and ended higher Thursday, notching another round of record highs for the S&P 500 and, just barely, the Dow Jones.
The number of Americans seeking unemployment benefits fell for a third straight time last week, the latest sign that employers are laying off fewer people as they struggle to fill a record number of open jobs and meet a surge in consumer demand.
A controversial crypto provision, which would impose tax-reporting requirements on a broad cross-section of digital asset holders, slipped into the Senate infrastructure bill despite pushback from the industry's nascent lobbying arm.
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Stocks closed mostly higher on Wall Street Wednesday, marking more records for the S&P 500 and the Dow Jones Industrial Average.
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Facebook already asks for your thoughts. Now it wants your prayers. The social media giant has rolled out a new prayer request feature, a tool embraced by some religious leaders as a cutting-edge way to engage the faithful online.
Earth is getting so hot that temperatures in about a decade will probably blow past a level of warming that world leaders have sought to prevent.
Stocks ended a wobbly day mostly lower on Wall Street Monday, with energy companies logging some of the biggest losses as oil prices took another turn lower.
