Turkey s Erdogan stages mass rally in show of strength after coup attempt
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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. Banners read "You are a gift from God, Erdogan" or "Order us to die and we will do it".
3 percent increase in average hourly earnings left the year-on-year gain at 2. 5 hours in July, the most since January. The average workweek increased by 0. With both hours and hourly earnings rising, workers' take-home pay shot up 0.
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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Erdogan, a polarizing figure seen by opponents as intolerant of dissent, has invited the heads of the secularist and nationalist main opposition parties to address the crowds in a display of national unity in defiance of Western criticism.
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.
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.
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.
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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.
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.
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. "The July jobs report was everything you could have asked for and more.
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.
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.
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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