We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
In October, U.S. employers added 128,000 new jobs, after an upwardly revised 180,000 gains in September. The latest number beat market expectations of 89,000. After revisions, job gains averaged 38,000 per month over the last three months.
In October, average hourly earnings increased by 6 cents to $28.18. In a year, average hourly earnings grew 3%. Average hourly earnings of private-sector production and nonsupervisory employees rose 4 cents to $23.70 in October. The U.S. unemployment rate remained at 3.6%, the lowest in 50 years.
The report is a huge hit given a 40-day General Motors (GM) strike, which sent 46,000 autoworkers out of the workforce and was expected to be a huge setback for the job market. However, a strike activity at GM plants in Michigan and Kentucky caused manufacturing employment fall the maximum in a decade.
Health Care
Per trading economics, health care added 15,000 jobs in the month. Per tradingeconomics, health care employment increased by 402,000 in a year’s time. This is one of the sectors which have been adding jobs continuously.
The fund iShares U.S. Healthcare Providers ETF (IHF - Free Report) should thus benefit. The index of the fund looks to track stocks of health maintenance organizations, hospitals, clinics, dentists, opticians, nursing homes, etc. The Zacks Rank #3 (Hold) stock added about 8% on Nov 1.
Food Services and Drinking Places
About 48,000 jobs were created in the sector in the month. Job growth in the industry has averaged 38,000 over the past three months, compared with an average monthly gain of 16,000 in the first seven months of 2019.
Obviously, such positive data makes us keep a close watch on Invesco Dynamic Food & Beverage ETF (PBJ - Free Report) . The underlying index of the fund includes food and beverage companies. These companies are principally engaged in the manufacture, sale or distribution of food and beverage products, agricultural products and products related to the development of food technologies. The fund has a Zacks ETF Rank #3.
Financial Activities
In October, employment in financial activities grew 16,000, with notable gains in real estate and rental and leasing (+10,000) and in credit intermediation and related activities (+6,000). Financial activities added 108,000 jobs over the last 12 months.
Since the real estate sector contributed to job growth meaningfully, investors can take a look at Real Estate Select Sector SPDR Fund (XLRE - Free Report) . The underlying Real Estate Select Sector Index includes securities of companies from the following industries real estate management and development and REITs, excluding mortgage REITs (read: 10 Top-Ranked ETFs Beating S&P 500 This Year).
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Sector ETFs to Win After Robust October Jobs Data
In October, U.S. employers added 128,000 new jobs, after an upwardly revised 180,000 gains in September. The latest number beat market expectations of 89,000. After revisions, job gains averaged 38,000 per month over the last three months.
In October, average hourly earnings increased by 6 cents to $28.18. In a year, average hourly earnings grew 3%. Average hourly earnings of private-sector production and nonsupervisory employees rose 4 cents to $23.70 in October. The U.S. unemployment rate remained at 3.6%, the lowest in 50 years.
The report is a huge hit given a 40-day General Motors (GM) strike, which sent 46,000 autoworkers out of the workforce and was expected to be a huge setback for the job market. However, a strike activity at GM plants in Michigan and Kentucky caused manufacturing employment fall the maximum in a decade.
Health Care
Per trading economics, health care added 15,000 jobs in the month. Per tradingeconomics, health care employment increased by 402,000 in a year’s time. This is one of the sectors which have been adding jobs continuously.
The fund iShares U.S. Healthcare Providers ETF (IHF - Free Report) should thus benefit. The index of the fund looks to track stocks of health maintenance organizations, hospitals, clinics, dentists, opticians, nursing homes, etc. The Zacks Rank #3 (Hold) stock added about 8% on Nov 1.
Food Services and Drinking Places
About 48,000 jobs were created in the sector in the month. Job growth in the industry has averaged 38,000 over the past three months, compared with an average monthly gain of 16,000 in the first seven months of 2019.
Obviously, such positive data makes us keep a close watch on Invesco Dynamic Food & Beverage ETF (PBJ - Free Report) . The underlying index of the fund includes food and beverage companies. These companies are principally engaged in the manufacture, sale or distribution of food and beverage products, agricultural products and products related to the development of food technologies. The fund has a Zacks ETF Rank #3.
Financial Activities
In October, employment in financial activities grew 16,000, with notable gains in real estate and rental and leasing (+10,000) and in credit intermediation and related activities (+6,000). Financial activities added 108,000 jobs over the last 12 months.
Since the real estate sector contributed to job growth meaningfully, investors can take a look at Real Estate Select Sector SPDR Fund (XLRE - Free Report) . The underlying Real Estate Select Sector Index includes securities of companies from the following industries real estate management and development and REITs, excluding mortgage REITs (read: 10 Top-Ranked ETFs Beating S&P 500 This Year).
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>