Americans are expecting higher earnings growth and spending growth in June, indicating their confidence in the labor market, a latest survey result from the New York Federal Reserve Bank showed on Monday.

According to the survey, the median one-year-ahead expected earnings growth rebounded to 2.5 percent in June from May's 2.2 percent.

On the faster earnings expectation, U.S. households expected to spend more in the future. The median household spending growth expectations rose sharply from 2.6 percent in May to 3.3 percent in June, returning to early 2017 levels, while U.S. households expect their income to grow about 2.7 percent in a year, the same expectation as in May, said the New York Fed.

According to the survey, expectations for inflation growth in a year slightly dropped to 2.5 percent from May's 2.6 percent, while the expectations for inflation growth at the three-year ahead horizon rose noticeably to 2.8 percent from May's 2.5 percent.

U.S. households remained optimistic about labor market, as more people are willing to quit their jobs in the next 12 months. The mean probability of leaving one's job voluntarily in the next 12 months bounded back to 20.8 percent in June from 19.4 percent in May, the lowest level since July 2013.

July 10 (Xinhua) -- Finance ministers of the 19-country Eurozone mulled on Monday to adopt a more appropriate phrase to describe its better-than-expected economic performance.

"We had some debate on whether we can still talk about the recovery phase or whether we are now in the expansion phase," the Eurogroup Chief Jeroen Dijsselbloem told a press conference following a monthly Eurogroup meeting.

The discussion stemmed from the fact that the finance ministers have seen 16 consecutive quarters of growth in the single currency zone when they were scheduled to take fiscal stance for next year, said Dijsselbloem, who is also Dutch finance minister.

"The output cap is closing, and for some countries has already closed. The risk of deflation is disappearing and there is no direct sign of overheating in our economies," he said.

Based on the performance, both the European Commission and the European Fiscal Board have advised a broadly neutral stance, the Eurogroup president added.

The chief said that the economic situation would be taken into consideration when finance ministers prepare national budgetary plans.

The online survey is based on responses from a rotating panel of approximately 1,300 household heads.

Eurozone finance ministers seek positive phrase for better economic performance.