Contrary to Popular Belief, the Recovery is not Stalling

Contrary to Popular Belief, the Recovery is not Stalling Nonfarm employment came in well below expectations in May, adding only 69K jobs with the unemployment rate drifting a notch higher to 8.2 percent. The details of the nonfarm payroll report suggest that weather could have been a driver for the weaker-than-expected outturn. Click below for Wells Fargo's latest view of the US and international economy. In spite of the challenges facing the US, a turn to Europe shows our comparatively positive position, although we may well find ourselves in the southern Mediterrean position sooner than later. https://www.wellsfargo.com/downloads/pdf/com/research/economic_commentary/WeeklyEconomicFinancialCommentary_06012012.pdf