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News Summary: US job gains defy Sandy, cliff

Published on NewsOK Modified: December 7, 2012 at 5:03 pm •  Published: December 7, 2012

HIRING STEADY: Employers added 146,000 jobs in November and the unemployment rate dipped to 7.7 percent, a four-year low, the government said Friday. Job gains were roughly the same as this year's 150,000 monthly average.

REASSURING: Though modest, the job growth was encouraging because it defied disruptions from Superstorm Sandy and employers' concerns about impending tax increases from the year-end "fiscal cliff."

PICKUP NEXT YEAR: Analysts said the job market's underlying strength suggests that if the White House and Congress can reach a budget deal to avoid the cliff, hiring and economic growth could accelerate next year.