Which Industries Are Hiring The Most/Least Right Now - What May Jobs Data Shows
Portfolio Pulse from Piero Cingari
The US labor market report showed a surprising gain of 339,000 nonfarm payrolls in May, with significant variations in employment growth between industries. Tech-related industries such as semiconductors, the internet, and software have had strong growth in the last month, while agriculture, mining, and retail have lagged.
June 02, 2023 | 3:10 pm
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POSITIVE IMPACT
First Trust Dow Jones Internet Index Fund (NASDAQ:FDN) is up 12.3% over the past month, driven by the strong growth in the internet industry.
The strong growth in the internet industry has led to a 12.3% increase in the First Trust Dow Jones Internet Index Fund (NASDAQ:FDN) over the past month. This growth is likely to continue in the short term as the internet sector remains strong.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
iShares Expanded Tech-Software Sector ETF (NYSE:IGV) is up 11.3% over the past month, driven by the strong growth in the software industry.
The strong growth in the software industry has led to an 11.3% increase in the iShares Expanded Tech-Software Sector ETF (NYSE:IGV) over the past month. This growth is likely to continue in the short term as the software sector remains strong.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
VanEck Semiconductor ETF (NASDAQ:SMH) is up 17.1% over the past month, benefiting from strong growth in the tech-related industries.
The strong growth in tech-related industries, particularly semiconductors, has led to a 17.1% increase in the VanEck Semiconductor ETF (NASDAQ:SMH) over the past month. This growth is likely to continue in the short term as the tech sector remains strong.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
VanEck Gold Miners ETF (NYSE:GDX) is down by 5.2% over the past month, as the mining industry lags behind other sectors.
The mining industry has been lagging behind other sectors, leading to a 5.2% decrease in the VanEck Gold Miners ETF (NYSE:GDX) over the past month. This trend may continue in the short term as the mining sector struggles to keep up with other industries.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
VanEck Vectors Agribusiness ETF (NYSE:MOO) is down by 7.4% over the past month, as the agriculture industry lags behind other sectors.
The agriculture industry has been lagging behind other sectors, leading to a 7.4% decrease in the VanEck Vectors Agribusiness ETF (NYSE:MOO) over the past month. This trend may continue in the short term as the agriculture sector struggles to keep up with other industries.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
SPDR S&P 500 Retail ETF (NYSE:XRT) is down by 4% over the past month, as the retail industry lags behind other sectors.
The retail industry has been lagging behind other sectors, leading to a 4% decrease in the SPDR S&P 500 Retail ETF (NYSE:XRT) over the past month. This trend may continue in the short term as the retail sector struggles to keep up with other industries.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100