Turkey s Erdogan stages mass rally in show of strength after coup attempt
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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 brutality of July 15, in which more than 230 people were killed as rogue soldiers commandeered fighter jets, helicopters and tanks, shocked a nation that last saw a violent military power grab in 1980. Even Erdogan's opponents saw his continued leadership as preferable to a successful coup renewing the cycle of military interventions that dogged Turkey in the second half of the 20th century.
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The average workweek increased by 0. 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. 5 hours in July, the most since January.
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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.
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.
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.
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. Treasury dealers who do business directly with the Fed, 13 said the U.
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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