Brazil unemployment hits seven-year high

Brazil's unemployment rate hit 8.2 percent last month, the highest level for February since 2009, official data said Wednesday, as the country struggles through twin political and economic crises. Latin America's largest economy is mired in a deep recession and weighed down by political uncertainty as President Dilma Rousseff faces impeachment proceedings and the fallout of a massive corruption scandal.
The unemployment rate rose sharply from the 7.6 percent registered in January. The Brazilian economy shrank by 3.8 percent last year, its worst recession in 25 years. The government estimates it will shrink by 3.05 percent this year, while the markets are betting on a contraction of 3.6 percent.