Venezuela jobless rate falls to 10.1 pct in March

CARACAS, Venezuela, April 21 (Reuters) - Venezuela's unemployment rate fell to 10.1 percent in March from 10.7 percent in February and 13.5 percent in the same month last year, the government said on Friday.

Venezuela's National Statistics Institute said a total of 542,468 jobs had been added to the economy since March 2005.

The institute said it expected the unemployment rate to fall below 7 percent by the end of the year.

Venezuela, the world's No.5 oil exporter, has benefited from windfall oil profits stemming from soaring crude prices. The South American nation's economy grew by 9.3 percent in 2005 over the previous year.

President Hugo Chavez, up for re-election in December, has stimulated the economy by boosting government spending and hiking salaries for government workers.