US jobs data upbeat, but trade and services dim outlook
WASHINGTON (REUTERS) - United States (US) private employers stepped up hiring in June and new applications for unemployment benefits fell for a second straight week last week, pointing to a steadily improving labour market picture.
Still, the pace of economic growth remains lackluster, with other reports on Wednesday showing a slowing in activity in the service industries last month and a widening in the trade deficit in May.
"We are picking up a little momentum in the jobs market,"said Mr John Ryding, chief economist at RDQ Economics in New York.
Private payrolls increased 188,000 in June, the ADP National Employment Report showed, up from the 134,000 jobs added in May.