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Unemployment climbs to 7.5 percent in Chile

Unemployment climbs to 7.5 percent in Chile

Chilean officials say unemployment rose to 7.5 percent at the end of November as the global financial crisis slowed loans to businesses.
The National Statistics Institute says jobless claims climbed from 7.3 percent in the same period last year.
Finance Minister Andres Velasco says the world economic crisis has so far had limited impact on Chilean employment, but he warns that Chile will shed more jobs by April.
Prices for copper, Chile's top export, have plummeted, helping to slow annual economic growth to 4.1 percent in October.
A presidential commission is expected to recommend increased spending on public works and other projects to help small businesses avoid layoffs in January.