Turkey s Erdogan stages mass rally in show of strength after coup attempt
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 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.
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.
Such solidarity may not last. 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.
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The brutality of July 15, in which more than 230 people were killed as rogue soldiers commandeered fighter jets, helicopters and tanks, shocked a nation that last saw a violent military power grab in 1980. Even Erdogan's opponents saw his continued leadership as preferable to a successful coup renewing the cycle of military interventions that dogged Turkey in the second half of the 20th century.
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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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.
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.
Construction payrolls rose 14,000 following three consecutive months of declines. Mining shed a further 7,000 jobs in July. Manufacturing sector employment increased by 9,000 jobs in July after adding 15,000 positions in June.
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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.
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Healthcare and social assistance payrolls rose by 48,800 jobs, extending the prior month's hefty gains. Government employment increased by 38,000 jobs as state and local authorities stepped up hiring of teachers. Temporary-help jobs, a harbinger of future hiring, increased 17,000.
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