Monster Worldwide (MWW) Jumps On Better Jobs Number

Online job recruiting website Monster Worldwide (NYSE: MWW) is seeing upside action today following a better-than-expected May jobs number. Shares of MWW are up 7.5% currently.

Data today from the U.S. government showed that Nonfarm payroll employment fell by 345,000 in May, which was about half the average monthly decline for the prior 6 months and well below the consensus of a 520,000 drop. The unemployment rate continued to rise, increasing from 8.9% to 9.4%.

Investors are placing a bet that not only will companies stop mass layoffs, but they could begin to hire again - this would directly benefit the parent company of the leading online job site Monster.com.

More traditional staffing companies are also seeing interest today, including: Robert Half International Inc. (NYSE: RHI) +4% and Manpower Inc. (NYSE: MAN).

You May Also Be Interested In

• Volkswagen labor union vows to fight factory closures
• Robinhood Markets (HOOD) PT Raised to $130 at Compass Point
• Employers Double Down on Frontline Hiring as they Make Sharper Bets on the Roles That Matter Most, New ICIMS Data Reveals