Strong U.S. employment report brightens economic outlook
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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. Healthcare and social assistance payrolls rose by 48,800 jobs, extending the prior month's hefty gains.
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.
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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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".
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.
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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.
Within about 1-1/2
to 2 years we will see the ebook business grow fast. It will
not replace paper books, but it will be a strong rival, especially
in text books, technical books and business books. Despite all this I still believe an ebook boom is coming. The
boom wasn't stopped; it was merely delayed.
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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