XTN - 4 Sector ETFs & Stocks Likely to Benefit Despite Soft Jobs Data | Benzinga
The U.S. economy added 175,000 jobs in April, well below Wall Street expectations of 240,000, strengthening bets that the Federal Reserve will be able to cut interest rates in the coming months. Health care and social assistance led the way with a gain of 87,000 jobs.
The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%. Average hourly earnings rose 0.2% sequentially and 3.9% year over year, both below consensus estimates. The jobless rate tied for the highest level since January 2022. The labor force participation rate, or those actively looking for work, was unchanged at 62.7%.
The slower job growth could be good news on the inflation front but cause economic slowdown. Below, we have highlighted some of the sectors that will likely see smooth trading in the days ahead in light of the April jobs data.
Sectors in Focus
Healthcare
Employment in the healthcare industry increased by 56,000 in jobs, in line with the average monthly ...