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

Revision as of 18:54, 4 September 2016

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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.

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

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.

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.

Erdogan, a polarizing figure seen by opponents as intolerant of dissent, has invited the heads of the secularist and nationalist main opposition parties to address the crowds in a display of national unity in defiance of Western criticism.

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"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.

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They are likely to
be skeptical and idealistic at the same time; to be less
moved by patriotic themes; and deeply concerned about
social injustice. Baby Boomers born in 1946 were the "flower" children of the
60's. And whether they protested the Vietnam War or not,
they were deeply marked by those years.

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.

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.

"The July jobs report was everything you could have asked for and more. 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.

Healthcare and social assistance payrolls rose by 48,800 jobs, extending the prior month's hefty gains. Government employment increased by 38,000 jobs as state and local authorities stepped up hiring of teachers. Temporary-help jobs, a harbinger of future hiring, increased 17,000.

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.

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

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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.

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