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Modest job gains reported in Oct.

Unemployment rate declines to 9%; but recovery still slow

Jobless workers, like those at this job fair, have been seeking work an average of 39.4 weeks. Jobless workers, like those at this job fair, have been seeking work an average of 39.4 weeks. (Jim Mone/Associated Press)
By Catherine Rampell
New York Times / November 5, 2011

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The American job market improved modestly in October, and economists looking deeper into the numbers found reasons for optimism - or at least what counts for optimism in this agonizingly slow economic recovery. The nation added 80,000 jobs. That was fewer than the 100,000 that economists expected, but it was the 13th consecutive month of job gains. Fears of a new recession that loomed over the economy this summer have receded.

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