The reads below are for when more people file for benefits than expected. Expect the opposite when fewer people file than expected. Cooler was the last call.
Basic MaterialsUsually hurtsA slowing economy uses less steel, copper and chemicals.
Communication ServicesUsually helpsLower rates help growth-priced media and internet companies.
Consumer CyclicalUsually hurtsFewer paychecks means less spending at stores, restaurants and dealers.
EnergyUsually hurtsLess commuting, shipping and factory activity means less fuel demand.
Financial ServicesUsually hurtsMore missed loan payments and less borrowing; lower rates also thin banks' margins.
IndustrialsUsually hurtsRising layoffs signal factories and builders are slowing.
Real EstateUsually helpsLower rates ease property companies' heavy borrowing costs.
TechnologyUsually helpsRising joblessness pushes the Fed toward lower rates, which lifts growth-priced tech.
UtilitiesUsually helpsUtilities trade like bonds and rise when rates fall.
Consumer DefensiveLittle effectGrocery and household spending barely changes with the job market.
HealthcareLittle effectHealthcare demand does not depend on hiring.
AirlinesUsually hurtsLeisure travel drops with employment.
Banks - RegionalUsually hurtsMore defaults and less borrowing.Credit ServicesUsually hurtsCard lenders see more missed payments as unemployment rises.
Residential ConstructionUsually helpsLower mortgage rates bring buyers back, outweighing the weaker job picture.
RestaurantsUsually hurtsPeople eat out less when jobs are lost.
Staffing & Employment ServicesUsually hurtsFewer hires means fewer fees for staffing firms.