Brazil creates fewer jobs in first 9 months

Brazil created 2.079 million jobs in the first nine months of the year, down 16.5 percent compared to the same period in 2010, the Labor Ministry said Tuesday. In September, 209,078 jobs were created, up 9.78 percent than in August, but down 15.3 percent compared to September 2010, official figures showed. Although formal employment continued to grow, the manufacturing industry was laying off workers, said Labor Minister Carlos Lupi, who attributed the loss of jobs in this sector to competition from imported goods. "That is why we need to protect the local industry from this competition, which causes changes in our economy," said Lupi. Brazil is now expected to create 2.7 to 2.9 million jobs in 2011, less than the initial target of 3 million, said the minister.