Likely ETF & Stock Winners From July Jobs Report

July’s jobs report pointed to a softer labor market, with nonfarm payrolls falling by 23,000 in seasonally adjusted terms versus a revised 20,000 decline in June. The Dow Jones consensus had expected a gain of 83,000, as cited by CNBC. The unemployment rate edged down to 4.1%, but labor force participation dropped to 61.4%, the lowest in more than five years. Revisions cut May’s final payrolls to 63,000, and the 12-month average fell to 34,000. Average hourly earnings rose just $0.02 to $37.62. The report highlights health care as an “ETF area in focus,” citing 22,000 jobs added in July and spotlighting the Health Care Select Sector SPDR ETF (XLV), along with surgery and retail-related ETF ideas.