Labor Breaking News: Jobs Data Upbeat, Trade Deficit Widens

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Labor Breaking News: Jobs Data Upbeat, Trade Deficit Widens

by Wochit 0:58 mins

Labor Breaking News: Jobs Data Upbeat, Trade Deficit Widens

by Wochit 0:58 mins

Private employers stepped up hiring in June and new applications for unemployment benefits fell for a second straight week, pointing to improving labor market conditions. However, the trade gap swelled more than 12 percent to $45 billion from a revised $40.1 billion in April, the biggest month-to-month increase in two years. The number of Americans filing new claims for unemployment benefits fell for a second straight week last week, pointing to a steady pace of job gains. German Chancellor Angela Merkel is hosting a European youth jobs summit. Merkel is bringing together officials from across Europe to discuss how best to get young people into jobs. EU leaders have agreed to put aside 6 billion euros ($7.8 billion) starting next year to fight youth unemployment.

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