Friday's impressive jobs report from the Bureau of Labor Statistics -- which highlighted nonfarm payroll jobs increasing by 287,000 last month, its highest one-month gain since last October -- gave a particular boost to U.S.-based hotel companies in morning trading.
Shares of Marriott (MAR) , Starwood (HOT) , and Hilton (HLT) were buoyed by a 59,000 boost in leisure and hospitality jobs, after the sector had historically been something of a laggard over the past several months. It posted an average rate of 27,000 per month in 2016.
Marriott and Hilton rose by more than 2% in morning trading, followed by a roughly 1.5% gain in Starwood shares after the jobs data were released.
Health care and social assistance was the runner-up sector in terms of strong job figures, posting 58,000 new positions last month, followed by 44,000 new jobs in information services.
The report was by no means sunny across the board, however. The unemployment rate ticked up 0.2% to 4.9% as 347,000 people were added to the 7.8 million pool of unemployed workers. The mining industry posted the most job losses, at 9,000.
In a Friday report Real Money's Tom Graff said the pattern of job growth this year could still put the economy in the "danger zone," after May's dismal revision to just 11,000 new jobs, putting the average monthly increase in jobs on the year to just 150,000.
"Based on some historical research on pre-recession periods, I believe that if hiring drops consistently below 175,000 per month, it is likely we will be hitting stall speed and job growth will likely drop toward zero," Graff said.
Meanwhile, Mohamed El-Erian, chief economic adviser at investment giant Allianz (ALV) , said in a Friday report that May's weak numbers were just an "outlier," and that June's strong labor-force participation rate of 62.7%, which ticked up moderately on the month, was especially "encouraging" for the U.S. economy.