Strong U.S. employment report brightens economic outlook
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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.
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.
Within about 1-1/2
to 2 years we will see the ebook business grow fast. It will
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in text books, technical books and business books. The
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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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-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.
The average workweek increased by 0. 5 hours in July, the most since January. 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.
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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"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.
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