UPDATE 1-Brazil adds payroll jobs for tenth month in Oct

* Brazil’s economy adds 204,804 payroll jobs in Oct

* Data underscores strong growth in Brazil economy

(Recasts, adds details)

BRASILIA, Nov 19 (BestGrowthStock) – Brazil’s economy added payroll
jobs for a tenth straight month in October, a streak
underscoring the robust growth in an emerging market darling
even as much of the developed world struggles.

Brazil’s economy added a net 204,804 payroll jobs
(BRPROL=ECI: ) in October, the Labor Ministry said on Friday.

In September, the economy added 246,875 payroll jobs.

The red-hot labor market has been a key engine of growth
for an economy which is expected to expand 7.6 percent this
year, according to a weekly central bank survey.

President Luiz Inacio Lula da Silva has made it a priority
to increase payroll jobs, because these are entitled to social
security benefits. About half of Brazil’s workforce is not
registered with the Labor Ministry and belongs to a vast
informal economy.

The country’s unemployment rate hit an all-time low in
September. The data for October are slated for release next
week, and some economists see the number setting a new record.

(Reporting by Isabel Versiani; Writing by Luciana Lopez and
Ana Nicolaci da Costa, Editing by Chizu Nomiyama)

UPDATE 1-Brazil adds payroll jobs for tenth month in Oct