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

Revision as of 08:55, 5 September 2016

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"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.

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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These places are scattered allover its mainland, the coastal area and several of its well-known islands. Least to say, these are well developed urban areas with the air links and sea routes arriving in from and leading out to the entire globe. The first one was the admission of Greece into the European Union in 1981, and the second one, the return of Olympic games in Athens in 2004. There is no definite answer as to why this latest upsurge may have taken place in the Greek property market, but the analysts attribute two major geopolitical events for this transformation. Greece property provides the buyers with an option to buy holiday homes, villas and apartments over a wide range of tourist places.

Such solidarity may not last. 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.

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.

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.

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.

But it was also the first time in decades that major opposition parties joined a rally in support of the government in the nation of almost 80 million. Banners read "You are a gift from God, Erdogan" or "Order us to die and we will do it".

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With both hours and hourly earnings rising, workers' take-home pay shot up 0. 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.

employment rose more than expected for the second month in a row in July and wages picked up, bolstering expectations of faster economic growth, and raising the probability of a Federal Reserve interest rate increase this year.

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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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