U.S. Jobs, Canada’s Slower Rebound, Venezuela Famine: Eco Day

(Bloomberg) -- Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• Fed Chairman Jerome Powell suggested it would take years for a return to anything like the strong labor market that the U.S. enjoyed before the coronavirus pandemic
  • Weekly U.S. jobless-claims data will remind people that economic pain remains widespread
  • Robots could be coming for pandemic-hit jobs, McKinsey says
• U.S. lawmakers proposed an estimated $25 billion in funding and tax credits to strengthen domestic semiconductor production and counter rising technological competition from China
• The worst may be over for Canada’s economy, but the nation’s more cautious approach to reopening means a slower rebound than in the U.S.
• After seven years of economic collapse, Venezuela’s crisis has entered a troubling new phase: Fuel shortages have grown so acute that fields are going bare and the country is on the verge of famine
• Europe’s economy risks losing out on a massive dose of stimulus from its consumers
• The U.K. still hopes the European Union’s chief negotiator, Michel Barnier, will show flexibility on a Brexit trade deal
• Finally, don’t miss this week’s episode of the Stephanomics podcast

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