Brazil to create 1.3 mln jobs by year end-Lula

Reuters    Translate This Article
22 November 2009

CAMACARI, Brazil (Reuters) - Brazil will have created 1.3 million payroll jobs by the end of 2009, President Luiz Inacio Lula da Silva said on Friday, as Latin America's largest economy recovered from a brief recession.

The forecast was more optimistic than that of Labor Minister Carlos Lupi who on Monday said 1 to 1.1 million jobs would be created by year end.

Data on Monday showed Brazil's economy added jobs for a ninth straight month in October—a record for that month. Lupi expects the economy to create 2 million jobs in 2010.

'At a time when the world is facing unemployment, we created 1.3 million new jobs this year of crisis,' Lula said at an event to unveil investments by automaker Ford in the country's northeastern state of Bahia.

'Brazil is going through a magical moment in its economic life,' he added.

Brazil emerged from a six-month recession in the second quarter of this year. The economic giant has been among the first countries to come out of the world's worst crisis in decades.

(Reporting by Peter Murphy; Writing Ana Nicolaci da Costa; Editing by Kenneth Barry)

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