Decoding U.S. Jobs Report, Second Firing Wave, PMI Hope: Eco Day

Welcome to Wednesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day.

  • There’s no way around it: Thursday’s U.S. labor reports will be a mess: While the June jobs data and weekly unemployment claims are expected to show further improvement in a hammered market, the actual trend may not be immediately clear when the Labor Department issues the reports
  • Some 2020 U.S. graduates are finding jobs, even in this economy. Luck plays a role, sure, but so does a willingness to compromise
  • U.S. firms are firing workers for a second time as some states resume lockdowns
  • Argentina is considering paying coupons sooner than previously announced, as it aims to close a gap with creditors in debt restructuring talks, according to people with knowledge of the matter
  • South Korea’s exports show the slump in global demand may have passed its worst, but significant uncertainty lies ahead of global trade, Bloomberg Economics says
  • Asia’s factories are also seeing a glimmer of hope as a report on manufacturing shows China demand picking up, but the International Monetary Fund warns lost economic output will likely persist until 2022
  • Euro-area manufacturing wasn’t as weak as initially reported in June, although jobs in industry are at risk
  • Italy is enlisting its citizens in the battle to protect public finances in the crisis
  • Sweden’s central bank ramped up stimulus and pledged to buy corporate bonds in a bid to stop the Nordic economy’s freefall
  • Declining U.K. house prices show the scale of Boris Johnson’s challenge to revive the U.K. economy

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.