Monster Worldwide (MWW) Jumps On Better Jobs Number
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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).
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).
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