March 20, 2013 / 6:11 PM / 5 years ago

Brazil adds 123,446 payroll jobs in February

SAO PAULO, March 20 (Reuters) - Brazil’s economy added a net 123,446 payroll jobs in February, the labor ministry said on Wednesday, exceeding a median forecast of 95,000 jobs in a Reuters survey of analysts.

Latin America’s largest economy added only 29,000 payroll jobs in January, the worst result for that month since the global financial crisis of 2009.

The pace of job creation has slowed in Brazil after two years of meager growth, but unemployment remains at record lows as businesses hold onto workers in the hopes of an economic recovery.

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