Strong U.S. employment report brightens economic outlook

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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.

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.

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.

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inflation and a global economic growth slowdown. 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.

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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.

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. Such solidarity may not last.

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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But, the story doesn't stop there, and the recent trends might say, even the Greece property market was about to experience a major boom due to the greater keenness being shown by the foreign buyers. Greece doesn't require any introduction, when it comes to speaking about its role in the worldwide tourism. The nation's timeless ancient history and its unharmed natural landscape, provide with the needed pull for drawing in millions of visitors to its soil each year.

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.

"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.

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.

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