Strong U.S. employment report brightens economic outlook
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.
3 percent increase in average hourly earnings left the year-on-year gain at 2. 5 hours in July, the most since January. With both hours and hourly earnings rising, workers' take-home pay shot up 0. The average workweek increased by 0.
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"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.
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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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. 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. Greece doesn't require any introduction, when it comes to speaking about its role in the worldwide tourism.
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.
"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.
"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.
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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 has vowed to rid Turkey of the network of U. -based cleric Fethullah Gulen, whose followers in the security forces, judiciary and civil service he accuses of orchestrating the attempted power grab and of plotting to overthrow the state.
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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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