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.”
Amazon founder Jeff Bezos, along with three civilians, launched into space aboard a rocket and capsule developed by his private spaceflight company, Blue Origin. The highly-anticipated, historic flight lasted for about 11 minutes. This comes after Sir Richard Branson flight with Virgin Galatic nine days ago. Senior national correspondent from POLITICO Bryan Bender joined Cheddar News to discuss what the launch means for the future of space tourism.
Wall Street notched more record highs on Friday, ending the week on a strong note after opening it with a stumble.
The number of Americans seeking unemployment benefits rose last week from the lowest point of the pandemic, even as the job market appears to be rebounding on the strength of a reopened economy
Major indexes edged higher on Wall Street after a day of muted trading, preserving their gains for the week.
Dollar-pegged cryptocurrencies called stablecoins are on the rise, and U.S. regulators are taking notice.
Stocks closed higher again on Wall Street, extending their gains following a sharp drop at the beginning of the week.
Israeli Prime Minister Naftali Bennett spoke to the head of Unilever after its subsidiary Ben & Jerry’s announced it would stop selling its ice cream in the Israeli-occupied West Bank and contested east Jerusalem.
Stocks jumped on Wall Street Tuesday, making up much of the ground they lost a day earlier when worries flared about spreading cases of the more contagious variant of COVID-19.
Pacific Gas & Electric says its equipment may have been involved in the start of the big Dixie Fire burning in the Sierra Nevada.
Online brokerage Robinhood is looking for a market valuation of up to $35 billion.
