U.S. applications for unemployment benefits fell last week as employers continue to retain workers despite resurgent inflation and elevated interest rates. The number of Americans filing for jobless benefits fell by 7,000 to 213,000 for the week ending February 8, the Labor Department said Thursday. Analysts projected that 215,000 new applications would be filed. Weekly applications for jobless benefits are considered representative of layoffs. The total number of Americans receiving unemployment benefits for the week of February 1 fell to 1.85 million, a decrease of 36,000 from the previous week.
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
Since it started selling cars in 2013, Carvana has disrupted the U.S. used vehicle market with no-haggle pricing and an online buying process that cuts out the often-dreaded salesman. The Tempe, Arizona, company took advantage of many buyers’ fear of negotiating with a dealer, letting them purchase vehicles via computer and have them delivered to their homes. CEO and co-founder Ernie Garcia says the company has lower costs than conventional dealerships because it doesn’t have expensive real estate across the nation. It does have 17 centers nationwide where used vehicles are reconditioned before sale. So far the company has sold about 2 million vehicles, with sales now running at a rate of 400,000 per year.
