Recession Fears Rise Again
Originally published by: Wells Fargo — September 2, 2011
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Today, markets received a gut-wrenching August payroll report, ratcheting up recession fears again. There were zero net nonfarm payroll jobs created in August with 58,000 fewer net jobs created during July and June. More troubling for people who still have jobs, average hourly earnings and weekly hours both contracted. Yet, the week started on a bright note, personal spending for July surprised on the upside, suggesting that economic growth was motoring ahead, when it was hit by the equity market declines and the shock to business and consumer confidence in August. Click the pdf link below to view the full report.