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.”
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.
United Airlines will require U.S.-based employees to be vaccinated against COVID-19 by late October, and maybe sooner.
Virgin Galactic is selling tickets for space flights again, just weeks after founder Richard Branson rode a rocket-powered plane to more than 50 miles above the Earth.
Hiring surged in July as American employers added 943,000 jobs.
Treasury yields powered higher Friday and two major stock indexes notched more record highs after a report showed the U.S. job market is making widespread improvements.
The U.S. men's track and field squad isn't looking so hot, Apple announces anti-child pornography measures on their iPhones, and the South Park boys get another big payday.
The e-commerce company opened Shopify New York on Thursday, a community workspace aimed at helping entrepreneurs. Cheddar's Michelle Castillo takes a deeper look at the Manhattan location.
Illinois dispensaries sold a record $127.8 million in recreational marijuana in July, with a big boost coming from out-of-state fans who converged on Chicago for the Lollapalooza music festival.
Stocks rose on Wall Street Thursday, notching more record highs for the S&P 500 and the Nasdaq.
The Mexican government is suing U.S. gun manufacturers and distributors, arguing that their commercial practices have unleashed tremendous bloodshed in Mexico.
