(Bloomberg) -- Welcome to Friday, Americas. Here's the latest news and analysis from Bloomberg Economics to help take you through to the weekend.
- It's U.S. jobs report day:
- The U.S. labor market probably extended its rebound last month, though the outlook for continued job growth is weakening for whichever candidate wins the White House
- Don't miss Bloomberg Economics' preview
- Federal Reserve Chair Jerome Powell opened the door to a possible shift in the central bank's bond purchases in coming months, saying that more fiscal and monetary support are needed as rising Covid-19 infections cloud the outlook
- Control of the Senate may not be known until at least Jan. 5, as both Georgia Senate races look likely to head for a runoff. This matters for 2021 U.S. GDP, as it widens a narrow path to a Democratic sweep of Congress and the presidency. Accompanying stimulus, which could top $2 trillion, implies growth above 5% year-over-year, according to Bloomberg Economics
- Canada also publishes jobs numbers today, with economists forecasting just 58,000 net jobs added in October
- The number of insolvency filings in Canada jumped in September to the highest since the pandemic began, in what may be the first sign of long-anticipated strains in household finances from the crisis
- Unionized workers in Canada are receiving solid wage gains during the pandemic, in an apparent effort by employers to keep the labor peace during a crisis
- Mexico will be excluded from any potential tariffs that the U.S. applies to electrical steel from other countries on national-security grounds after agreeing to monitor its exports for transshipment
- Chile's inflation unexpectedly sped up in October as the easing of virus lockdowns fueled demand and prices of items ranging from services to apparel
- After tightening capital controls several times, Argentina's government surprised investors by altering its tack in what appears to be an incipient effort to restore confidence
- Finally, catch up on this week's Stephanomics podcast
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