The reads below are for when job openings come in higher than expected. Expect the opposite when job openings fall short. Hotter was the last call.
Basic MaterialsUsually helpsA busy economy uses more steel, copper and chemicals.
Communication ServicesUsually hurtsMore jobs means more ad spending, but the higher-rates reaction usually wins on the day.
Consumer CyclicalUsually helpsPaychecks are what people spend at stores, restaurants and car dealers.
EnergyUsually helpsMore people working means more commuting, shipping and power use.
Financial ServicesUsually helpsEmployed people repay loans and borrow more; banks benefit.
IndustrialsUsually helpsStrong hiring means factories and builders are busy.
Real EstateUsually hurtsStrong jobs push rates up, and property companies borrow heavily.
TechnologyUsually hurtsStrong hiring tells the Fed it can keep rates high, which weighs on growth-priced tech.
UtilitiesUsually hurtsUtilities trade like bonds and fall when strong jobs lift rates.
Consumer DefensiveLittle effectGrocery and household spending barely changes with the job market.
HealthcareLittle effectHealthcare demand does not depend on hiring.
Staffing & Employment ServicesUsually helpsStaffing firms earn a fee on every hire; payroll growth is their business.
AirlinesUsually helpsLeisure travel follows employment and pay.
Banks - RegionalUsually helpsFewer loan defaults and more borrowing when hiring is strong.Credit ServicesUsually helpsCard lenders see fewer missed payments when people are working.
Residential ConstructionUsually hurtsHigher mortgage rates on a strong report outweigh the extra buyers.
RestaurantsUsually helpsPeople eat out more when they have jobs; rising wages are the offset.