The U.S. labor market likely slowed further in June, with the unemployment rate expected to have edged up to more than a 3-1/2-year high of 4.3%, as economic uncertainty stemming from the Trump administration's policies curbed hiring.

The US private sector lost jobs in June, the first negative month in more than two years, according to new data Wednesday from payroll provider ADP.

The June jobs report comes at a pivotal moment for markets as investors assess how quickly the US labor market is cooling.