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

Revision as of 00:34, 6 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.

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inflation and a global economic growth slowdown. 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.

"Erdogan has been brutal and unfair to us in the past, but I believe he has now understood the real importance of the republic's values," said Ilhan Girit, 44, a musician and CHP supporter, carrying a flag of Mustafa Kemal Ataturk, founder of the modern secular republic.

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.

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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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.

"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.

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, the story doesn't stop there, and the recent trends might say, even the Greece property market was about to experience a major boom due to the greater keenness being shown by the foreign buyers. Greece doesn't require any introduction, when it comes to speaking about its role in the worldwide tourism. The nation's timeless ancient history and its unharmed natural landscape, provide with the needed pull for drawing in millions of visitors to its soil each year.

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Banners read "You are a gift from God, Erdogan" or "Order us to die and we will do it". 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.

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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. In addition, 18,000 more jobs were created in May and June than previously reported.

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