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.
For most aficionados, a sparkling wine can be called champagne only if it comes from the region of France with that name and is made under certain regulations.
President Joe Biden has signed an executive order that targets what he says are anticompetitive practices in tech, health care and other parts of the economy.
Stocks closed with solid gains on Wall Street Friday, ending a holiday-shortened week with their third straight weekly gain.
As China gets out of the bitcoin mining business entirely, at least one North America-based mining pool, Foundry USA Pool, is reaping the benefits.
Stocks pulled back from the record highs they’ve been setting as bond yields continued to fall and investors turned cautious.
The number of Americans filing for unemployment benefits rose slightly last week even while the economy and the job market appear to be rebounding from the coronavirus recession with sustained energy.
Bill Gates and Melinda French Gates will continue to work together as co-chairs of their foundation even after their planned divorce.
Federal Reserve officials began debating at their June meeting when and how they would reduce the monthly bond purchases that they have used to keep longer-term interest rates in check.
Egyptian authorities have announced the release of a hulking shipping vessel that had blocked the Suez Canal for nearly a week earlier this year.
