Difference between revisions of "Strong U.S. employment report brightens economic outlook"

Revision as of 04:49, 4 September 2016

More than a million Turks gathered in Istanbul on Sunday for a rally called by President Tayyip Erdogan to denounce a failed coup - a show of strength staged in the face of Western criticism of widespread purges and detentions.

There are already opposition concerns that the restructuring of the military lacks parliamentary oversight and is going too far, with thousands of soldiers discharged, including around 40 percent of generals. Such solidarity may not last.

At the same time, people can buy luxurious villas in the resort towns as an investment option or to have extended holidays there. This leaves out the buyers with an option to buy apartments in Athens, which are easier to locate in the Greece property since the 2004 Olympic games ended here. Buyers eye the hectic profits these days, when deciding to invest in the villas or farm lands across the Greek countryside.

In addition, 18,000 more jobs were created in May and June than previously reported. Nonfarm payrolls rose by 255,000 jobs after an upwardly revised 292,000 surge in June, with hiring broadly based across the sectors of the economy, the Labor Department said on Friday.

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Amid the cooling of ties with the West, Erdogan is due to meet Russian President Vladimir Putin on Tuesday in St Petersburg for talks intended to end a period of tension after Turkey downed a Russian fighter jet near the Syrian border last November.

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Provided the strength in jobs is confirmed with other economic data, the Fed will have sufficient reason to hike (rates) this year," said Michelle Meyer, a senior economist at Bank of America Merrill Lynch in New York. "The July jobs report was everything you could have asked for and more.

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The brutality of July 15, in which more than 230 people were killed as rogue soldiers commandeered fighter jets, helicopters and tanks, shocked a nation that last saw a violent military power grab in 1980. Even Erdogan's opponents saw his continued leadership as preferable to a successful coup renewing the cycle of military interventions that dogged Turkey in the second half of the 20th century.

central bank raised interest rates for the first rise in nearly a decade last December, but since then has held rates steady amid concerns over persistently low U. inflation and a global economic growth slowdown.

Thus, the market for Greece property provides with a great investment value to all those who might be willing to cash in from its buoyant trend. Villas can be sold to other buyers at a handsome premium later. Anybody who might be seeking to own a Greece property will have to fulfill certain conditions before doing so. On the other hand, many villa owners lend their properties to holidaymakers, who flock in huge numbers after each winter season.

Last month's strong jobs growth should reinforce the Fed's confidence in a labor market that officials view as at or near full employment. Fed Chair Janet Yellen has said the economy needs to create just under 100,000 jobs a month to keep up with population growth.

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Other details showed a rise in the labor force, which lifted the participation rate, or the share of working-age Americans who are employed or at least looking for a job, by one-tenth of a percentage point to 62.

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