U.S. private employers boosted hiring in May and new applications for jobless benefits fell last week, increasing the economic outlook for the second quarter.<br />Another report showed planned layoffs by U.S.-based employers fell 53 percent to a five-month low last month.<br />The steady stream of positive data suggests the economy is regaining momentum, which could allow the Federal Reserve to raise interest rates later this month or in July.<br />Jobless claims have now been below 300,000 for 65 straight weeks, the longest streak since 1973.
