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

Revision as of 18:25, 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.

Professional and business services, a high wage sector, added a strong 70,000 jobs last month, the most since last October. Retail sector employment increased by 14,700 jobs and payrolls in the leisure and hospitality sector rose by 45,000.

Manufacturing sector employment increased by 9,000 jobs in July after adding 15,000 positions in June. Mining shed a further 7,000 jobs in July. Construction payrolls rose 14,000 following three consecutive months of declines.

But a broad measure of unemployment that includes people who want to work but have given up searching and those working part-time because they cannot find full-time employment rose one-tenth of a percentage point to 9.

With a soft economy and a growing number of laid-off workers who will
naturally consider a business start-up when they discover their job prospects
are dim, this is not the best time to launch a new enterprise. A home business start-up boom is likely in
process right now. But I can tell
you from personal experience, the decision to launch a business is not
usually rational or logical. It's not because of opportunity; it's because of desire.

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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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3 percent increase in average hourly earnings left the year-on-year gain at 2. With both hours and hourly earnings rising, workers' take-home pay shot up 0. 5 hours in July, the most since January. The average workweek increased by 0.

"We're here to show that theses flags won't come down, the call to prayer won't be silenced, and our country won't be divided," said Haci Mehmet Haliloglu, 46, a civil servant who traveled from the Black Sea town of Ordu for the rally.

central bank would raise its target interest rate by a quarter percentage point by the end of the year, compared with 8 of 15 primary dealers in a July 8 poll. Treasury dealers who do business directly with the Fed, 13 said the U.

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.

Less
idealistic than the first group, they are interested in
security, are more likely to be Republicans, and view
institutions with skepticism. They are at their peak
earning years, sending their children to college, and
starting to think about saving for retirement. The middle boomers are pushing 50.

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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