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.”
Brooklyn’s beloved food festival Smorgasburg is back after a forced hiatus during the coronavirus pandemic. As with most businesses, founders say the popular festival won’t look quite the same as before.
Stocks drifted to a mixed finish on Wall Street Wednesday, after tentative gains earlier in the day brought the S&P 500 back near a record high.
Warren Buffett is resigning as a trustee from the Bill and Melinda Gates Foundation.
Federal Reserve Chairman Jerome Powell testified before the House Select Subcommittee on the Coronavirus Crisis on Tuesday.
Stocks finished higher on Wall Street Tuesday, nudging the S&P 500 closer to the record high it reached last week.
Facebook is launching podcasts and live audio streams in the U.S. to compete with emerging rivals.
Stocks rebounded on Wall Street Monday and clawed back most of their sharp loss from last week.
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.
The trend of removing sponsor bottles at European Championship news conferences was started by Cristiano Ronaldo. UEFA has now asked teams to stop it.
Stocks fell broadly on Wall Street Friday, sending the S&P 500 to its worst weekly loss since February.
