Difference between revisions of "Strong U.S. employment report brightens economic outlook"

Revision as of 06:32, 5 September 2016

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.

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Construction payrolls rose 14,000 following three consecutive months of declines. Manufacturing sector employment increased by 9,000 jobs in July after adding 15,000 positions in June. Mining shed a further 7,000 jobs in July.

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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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Healthcare and social assistance payrolls rose by 48,800 jobs, extending the prior month's hefty gains. Temporary-help jobs, a harbinger of future hiring, increased 17,000. Government employment increased by 38,000 jobs as state and local authorities stepped up hiring of teachers.

Amid the cooling of ties with the West, Erdogan is due to meet Russian President Vladimir Putin on Tuesday in St Petersburg for talks intended to end a period of tension after Turkey downed a Russian fighter jet near the Syrian border last November.

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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.

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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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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