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

Revision as of 18:32, 5 September 2016

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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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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.

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.

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.

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

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.

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. The average workweek increased by 0. 5 hours in July, the most since January.

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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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Fed Chair Janet Yellen has said the economy needs to create just under 100,000 jobs a month to keep up with population growth. 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.

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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.

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.

At the same time, people can buy luxurious villas in the resort towns as an investment option or to have extended holidays there. Buyers eye the hectic profits these days, when deciding to invest in the villas or farm lands across the Greek countryside. 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.

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