5 Top-Rated Stocks To Ride A Blockbuster Jobs Report

Hiring, by the way, also improved in the industrial side of the U.S. economy. Manufacturers hired 53,000 workers last month as demand for factory products remained strong. Additionally, government employment picked up.

In fact, the overall job additions in the first two months of this year were revised up, while the unemployment rate in March dropped to 6%, in line with estimates, as mentioned in a Bloomberg article. Moreover, a better measurement of unemployment – U6 rate – dropped to 10.7% from 11.1%, the MarketWatch article added. The U6 rate had touched a record 22.9% last April when the coronavirus pandemic ravaged the economy.

How to Play the Strength in the Labor Market?

No doubt, the labor market has added jobs at a strong clip so far this year and is also well-poised to strengthen in the near future along with the economy. Thus, investing in sound staffing stocks at the moment seems prudent since they are direct beneficiaries of job additions.

It’s also judicious to invest in stocks from the aforesaid areas where jobs have been added. After all, job gains indicate that such areas are recuperating from the drubbing they took due to the pandemic. We have, thus, selected five stocks that possess a Zacks Rank #1 (Strong Buy) or 2 (Buy).

Cross Country Healthcare, Inc. (CCRN Quick Quote CCRN - Free Report) is a national leader in providing innovative healthcare workforce solutions and staffing services. The company currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has moved 116.1% up over the past 60 days. The company’s expected earnings growth rate for the current year is 45.7%.

Kforce, Inc. (KFRC Quick Quote KFRC - Free Report) is a full-service, web-based specialty staffing firm providing flexible and permanent staffing solutions for organizations. The company currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has advanced 7.2% over the past 60 days. The company’s expected earnings growth rate for the current year is 8.4%.

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