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.
5 hours in July, the most since January. 3 percent increase in average hourly earnings left the year-on-year gain at 2. With both hours and hourly earnings rising, workers' take-home pay shot up 0. The average workweek increased by 0.
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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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Other details showed a rise in the labor force, which lifted the participation rate, or the share of working-age Americans who are employed or at least looking for a job, by one-tenth of a percentage point to 62.
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. Construction payrolls rose 14,000 following three consecutive months of declines.
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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.
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-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. Erdogan has vowed to rid Turkey of the network of U.
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.
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. inflation and a global economic growth slowdown.
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