* Brazil's economy added net 246,695 payroll jobs in Nov
* Jobs created for a 10th straight month
* Retail, services driving sectors; farming lost jobs
(Adds analyst, paragraphs 7-8)
By Raymond Colitt
BRASILIA, Dec 16 Brazil generated a record
number of payroll jobs in November, the 10th straight month of
rising employment and a sign that Latin America's largest
economy is consolidating its recovery.
Retailers, manufacturers, and builders added a net 246,695
jobs last month, the labor ministry said on Wednesday.
Employers created 1.413 million jobs and eliminated 1.166
million jobs, the ministry said.
"The internal market is very hot. It's the best November in
history," Labor Minister Carlos Lupi told a news conference.
Brazil's economy emerged from a brief recession in the
second quarter. Slower-than-expected growth in the third
quarter led some analysts to revise down their yearly
projections to a 0.25 percent contraction in 2009.
But growth is expected to bounce back to around 5 percent
next year, according to a central bank survey of leading
financial institutions released on Monday.
"The Brazilian economy reacted very quickly," Lupi said.
Brazil will add 1.15 million to 1.2 million jobs in 2009
and more than 2 million in 2010, he added.
Analysts said rising employment would in turn bolster
"The numbers indicate a strong recovery of the Brazilian
job market, giving support to domestic demand and so, too, the
economy," CM Capital Markets, a Sao Paulo-based brokerage, said
in a report.
About half of Brazil's workforce is not registered with the
labor ministry and belongs to a vast informal economy.
President Luiz Inacio Lula da Silva's administration is seeking
to increase the number of payroll jobs, which offer social
security and other perks, in the country of 190 million
The November results were particularly strong because
employers had underestimated the economic recovery and needed
to hire in time for the year-end holidays, when consumer demand
typically peaks, said Lupi.
"For retail, it'll be the best December during the Lula
government," he said.
The wholesale and retail sectors accounted for nearly half
of the new jobs in November.
New lines of credit and historically low interest rates
have helped fuel domestic consumer demand.
Brazil's huge agriculture sector was the only area that
lost jobs in November, because of seasonally low harvesting
activity, the ministry said.
(Editing by Padraic Cassidy)