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.”
Johnson & Johnson says it is recalling five of its sunscreen products after some samples were found to contained low levels of benzene, a chemical that can cause cancer with repeated exposure.
The number of Americans applying for unemployment benefits has reached its lowest level since the pandemic struck last year, further evidence that the U.S. economy and job market are quickly rebounding from the pandemic recession.
Stocks closed lower Thursday, pulling major indexes a bit further below the record highs they marked at the start of the week.
While testifying before Congress on Wednesday, Federal Reserve Chairman Jerome Powell offered his most extensive comments yet on the possibility of a central bank digital currency.
Stocks ended a wobbly day on Wall Street with mixed results Wednesday as investors weighed the latest corporate earning reports and the Federal Reserve chair’s comments on inflation.
American consumers faced a third straight monthly surge in prices in June, the latest evidence that a rapid reopening of the economy is fueling pent-up spending for goods and services that in many cases remain in short supply.
Stocks closed lower on Wall Street Tuesday, bringing major indexes slighly below the record highs they set a day earlier.
Tesla founder Elon Musk took to a witness stand Monday to defend his company’s 2016 acquisition of a troubled company called SolarCity against a shareholder lawsuit that
Major stock indexes notched more record highs on Wall Street Monday as investors look ahead to a wave of earnings reports from big U.S. companies coming out this week.
"Uranium bulls," a small but devoted group of investors, see an opportunity in the metal commodity that makes nuclear power possible.
