U.S. jobs growth likely to be relatively strong in June

U.S. employers likely maintained a fairly healthy pace of hiring in June, consistent with data that have suggested a sharp economic contraction in the first-quarter was an aberration. Nonfarm payrolls probably increased 212,000, marking the fifth consecutive month of job gains above 200,000, according to a Reuters poll of economists. "The economy is certainly headed in the right direction," said Millan Mulraine, deputy chief economist at TD Securities in New York. "While the momentum in the labor market has shifted modestly lower from the last two months, it's still quite strong."

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