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New York weathers massive US job cuts

Employment at New York's securities firms has shown "striking" resilience to the financial downturn that has seen 50,000 financial sector jobs wiped out nationwide, after ending the year with close to 2,000 more staff than six months before.

Outside New York, redundancies over the second half of the year were the highest since the recession of the early 1990s, according to a report from the New York Comptroller.

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