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.
The middle boomers are pushing 50. They are at their peak
earning years, sending their children to college, and
starting to think about saving for retirement. Less
idealistic than the first group, they are interested in
security, are more likely to be Republicans, and view
institutions with skepticism.
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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.
Treasury dealers who do business directly with the Fed, 13 said the U. 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.
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.
"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.
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.
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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.
"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.
Retail sector employment increased by 14,700 jobs and payrolls in the leisure and hospitality sector rose by 45,000. Professional and business services, a high wage sector, added a strong 70,000 jobs last month, the most since last October.
All
of the elements are there to support this quiet boom. Layoffs are increasing. Home-equity gains of the past few years provide the modest capital needed for
a home-based launch. You may not read much about it, since
home business activity takes place quietly, but it's coming nonetheless. There is a coming home-business boom. And people are getting tired of reporting to offices
where salaries are frozen and advancement opportunity is narrowing as people
hold tight to their current jobs.
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