U.S. Payrolls, Trade Responses, Draghi's Number Two: Eco Day

(Bloomberg) -- Good morning Americas. Here’s news from Bloomberg Economics to help get your Friday started:

  • It’s jobs day, and U.S. firms’ struggles to find employees suggest payroll gains will cool from this year’s monthly average of 200,000
  • America’s closest allies plan to slap billions of dollars in tit-for-tat tariffs on U.S. goods after the Trump administration announced it’s imposing steel and aluminum duties on them
    • At a G-7 meeting in Canada, Treasury Secretary Steven Mnuchin received an earful from global finance chiefs, while Japan’s Haruhiko Kuroda warned protectionism can backfire
  • Former Spanish Finance Minister Luis de Guindos starts his new job at the ECB today as the man who would step into Mario Draghi’s shoes in an emergency
  • Danish central bank governor Lars Rohde reckons some bankers are forgetting the lessons of the financial crisis
  • U.K. manufacturing growth unexpectedly quickened in May, but Markit noted the “unconvincing” rebound “masked several areas of potential concern”
    • Meanwhile ONS data showed British households saved less of their incomes than previously estimated in the year of the Brexit referendum as living standards fell
  • Finally, here’s our take on events in the world economy in a week that saw Italy roil global markets

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