Hiring trends for an industry can be a sign of how companies are faring as they either shed workers or commit to bringing on new hires.
The U.S. economy continued to grow in the third quarter, and healthcare companies, professional and business services and construction companies added jobs. Based on these trends, Zacks Investment Research has selected six mutual funds to buy on jobs growth.
“Employment in the healthcare sector increased by 28,000 last month. Around 407,000 jobs were created by the sector over the last 12 months,” Zacks says in a Seeking Alpha blog. “Construction employment increased by 19,000 last month, following strong job growth in residential specialty trade contractors.”
Zacks: 6 Mutual Funds to Buy on Jobs Growth
Healthcare
Fidelity Select Health Care Services Portfolio (ticker: FSHCX): This fund invests in companies that operate hospitals and nursing homes, and are related to the healthcare services sector. It has a three-year return of 11.7 percent.
Live Oak Health Sciences Fund (LOGSX): Live Oak invests in health companies in the research, development and distribution of services and products related to healthcare, medicine or the life sciences. It has a three-year return of 8.8 percent.
Professional and Business Services
Fidelity Select Financial Services Portfolio (FIDSX): This financial services fund puts money in stocks of financial and accounting services companies. It has a three-year return of 7.9 percent.
Fidelity Select Software & IT Services Portfolio (FSCSX): This sector fund invests most of its money in software or information-based service companies. It has a three-year return of 7.9 percent.
Construction Services
Fidelity Select Industrials (FCYIX): This fund focuses no companies that manufacture, develop, sell or distribute industrial products and equipment. It has a three-year return of 7.7 percent.
Fidelity Select Industrial Equipment Portfolio (FSCGX): This fund has a three-year return of 7.2 percent.
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