(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.


Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • It’s U.S. jobs report day. U.S. employment growth is projected to exceed a half million for a second month in November, though such momentum may be tested by a new Covid-19 strain
  • Janet Yellen said it’s the Fed’s job to avert any wage-price spiral and she understands the “reasoning” behind plans to scale back QE
    • Unemployed Americans are in no rush to get back to work anytime soon, suggesting labor shortages will persist
    • In one corner of the U.S. rates market, traders have begun to contemplate the possibility of Fed rate cuts in 2025
    • The Senate on Thursday night averted a U.S. government shutdown and passed a stopgap spending measure
  • European Central Bank Governing Council member Madis Muller said the omicron variant shouldn’t change current plans to stop emergency bond purchases next year
  • The U.K. Treasury is close to appointing David Miles, a former Morgan Stanley economist and Bank of England rate-setter, to one of the nation’s most influential economic policy jobs
  • Apple Inc. just offered a new reason to be worried about the state of the consumer
  • The IMF warned of “economic collapse” in some low-income countries unless creditors suspend debt-service obligations
  • Victoria Rodriguez Ceja is set to become Mexico’s first female central bank governor after the senate confirmed her to its board Thursday
  • Japan may have cold feet on ESG bonds
  • India’s government plans to bridge the gaps in employment data by next year, with officials gathering details on the job status of about half a billion workers to improve policy making, according to people familiar with the matter

©2021 Bloomberg L.P.