US employers ignored fiscal cliff threat to add jobs

US private-sector employers shrugged off a looming budget crisis and stepped up hiring in December, offering further evidence of underlying strength in the economy as 2012 ended.

While other data released yesterday showed an increase in the number of Americans filing new claims for unemployment benefits, the trend remained consistent with steady job growth.

“The underlying economy has momentum, and the employment data confirms that. The hope and prayer of the market is that our political leaders don’t screw it up,” said John Brady, managing director at RJ O’Brien & Associates in Chicago.