U.S. trade deficit shrinks; private jobs growth rebounds

NEW YORK/WASHINGTON (Reuters) - The U.S. trade deficit narrowed in April on a drop in imports, which surged in March following the end of a West Coast ports labor dispute, while companies picked up their hiring in May after a pullback the previous month. The data supported the notion the U.S. economy has recovered somewhat from a first-quarter contraction and bolstered expectations the Federal Reserve may consider raising interest rates later this year. "The takeaway for now is that the mas