Brazil to generate two mln jobs in 2010: labor minister

The Brazilian economy will generate two million new formal jobs in 2010, Labor Minister Carlos Lupi said on Thursday.

In a radio interview, Lupi said the high job generation was due to the great improvement in the Brazilian economy this year.

He predicted that in 2010, the economy would have the best year of the Lula administration when it came to job generation and economic growth.

Lupi predicted one million new jobs in 2009, which was considered overly optimistic. However, his prediction turned out to be true in November, when Brazil celebrated the creation of 1.4million new formal jobs amid the international financial crisis.

The labor minister said that the figures showed that Brazil has completely overcome the effects of the crisis, which could be attributed to its large domestic market.

He also said the industrial sector, which was especially hard hit by the crisis, would undergo a steady recovery this year.

Source: Xinhua