For Immediate Release
Chicago, IL – November 9, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Korn Ferry (
KFY Quick Quote KFY - Free Report) , Kforce Inc. ( KFRC Quick Quote KFRC - Free Report) , Robert Half International Inc. ( RHI Quick Quote RHI - Free Report) , Cross Country Healthcare, Inc. ( CCRN Quick Quote CCRN - Free Report) and DLH Holdings Corp. ( DLHC Quick Quote DLHC - Free Report) . Here are highlights from Monday’s Analyst Blog: 5 Staffing Stocks to Buy on October's Impressive Jobs Report
As the economy continues to reopen, industries are getting back to functioning, and people have started finding new jobs. Those furloughed last year due to the pandemic are also being rehired. This saw hiring at U.S. companies finally rebounding in October to the maximum since July.
The rebound comes as more people are now going back to work as they are vaccinated. The jump in new job creations and hiring is thus directly helping staffing companies as they are getting busy helping people find jobs.
Hiring Surges in October
The Labor Department said on Nov 5 that U.S. companies added 531,000 jobs in October, the highest since July. Interestingly, hiring jumped at a record pace in July, the fastest in almost a year, as the economy started functioning in full swing but slowed again during summer.
However, things finally seem to be changing, as millions of vaccinated people are now confident about going back to work. Industries, too are getting back to functioning at the optimum level, increasing demand for workers.
This has resulted in employers stepping up hiring. Also, the Labor Department report showed that the unemployment rate fell to 4.6% in October from 4.8% in September. Although the rate is higher than the pre-pandemic levels, it is still one of the lowest in recent times.
The report further showed that while hiring was on the higher side in October,it wasn’t as weak as initially reported in August and September. The hiring estimate by the government for August and September was revised by a combined 235,000 jobs.
Moreover, hiring in October increased across all sectors expect for government employers reporting loss of jobs. Shipping and warehousing companies added 54,000 jobs, while retailers reported a gain of 35,000 new jobs. The leisure and hospitality sector, which includes restaurants, bars, hotels and entertainment venues, added 164,000 jobs.
Signs of Economic Recovery
Higher job additions, particularly in the retail, and leisure and hospitality sectors showed signs of economic reopening followed by a steady recovery. Widespread vaccination has made people confident about planning vacations and eating out.
Also, consumer confidence, which had taken a hit in the past few months, bounced back in October as fears of the Delta variant of coronavirus eased somewhat. Consumer confidence increased to 113.8 in October from September’s reading of 109.8.
The retail sector too has been trying to bounce back, with sales jumping 0.7% in September. Sales at restaurants grew 0.3% month over month in September and 29.5% year over year. This once again shows that the above industries are making a fast recovery, which is helping to drive hiring.
Also, average hourly earnings for employees jumped 4.9% in October on a year-over-year basis. The jump in hiring and a decline in unemployment is backed by a steady decline in COVID-19 cases. This is likely to further boost consumer confidence in the coming days and encourage employers to hire more.
Hiring will be on the rise as the economy further reopens. This thus makes for an ideal opportunity to invest in staffing stocks.
KornFerry is the world's leading and largest executive recruitment firm with the broadest global presence in the executive recruitment industry.
The company’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings improved 23.8% over the past 60 days. KornFerry International carries a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here. Kforce is a full-service, web-based specialty staffing firm, providing flexible and permanent staffing solutions to organizations and career management for individuals in the specialty skill areas of information technology, finance & accounting, human resources, engineering, pharmaceutical, health care, legal, e-solutions consulting, scientific and insurance and investments.
The company’s expected earnings growth rate for the current year is 35.5%. The Zacks Consensus Estimate for current-year earnings improved 10.3% over the past 60 days. Kforce sports a Zacks Rank #1.
Robert Half International is one of the world's largest providers of professional consulting and staffing services. The company's specialized staffing divisions include Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources for temporary, full-time and senior-level project professionals, respectively.
The company’s expected earnings growth rate for the current year is 95.9% The Zacks Consensus Estimate for current-year earnings improved 5.4% over the past 60 days. Robert Half International has a Zacks Rank #1.
Cross Country Healthcare is a national leader in providing innovative healthcare workforce solutions and staffing services. Their diverse client base includes both clinical and nonclinical settings, servicing acute care hospitals, physician practice groups, outpatient and ambulatory-care centers, nursing facilities, both public schools and charter schools, rehabilitation and sports medicine clinics, government facilities, and homecare.
The company’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings improved 44.9% over the past 60 days. Cross Country Healthcare has a Zacks Rank #2 (Buy).
DLH serves clients throughout the United States as a full-service provider of healthcare, logistics, and technical support services to DoD and Federal agencies. Its healthcare delivery solutions include professional services, such as case management, health and injury assessment, critical care, medical/surgical, emergency room/trauma center, counseling, behavioral health and trauma brain injury, medical systems analysis, and medical logistics, and allied support services in the areas of MRI technology, diagnostic sonography, phlebotomy, dosimetry, physical therapy and pharmaceuticals.
The company’s expected earnings growth rate for the current year is 28.8%. DLH shares have gained 16.6% in the past 30 days. The company currently carries a Zacks Rank #2.
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