As the financial markets digest overall disappointing employment news, the government reported today that jobs in the mortgage sector grew.
According to the Bureau of Labor Statistics, mortgage jobs in October totaled 465,500, up from 459,300 the prior month. A year ago, there were 450,700 people working in mortgage lending.
In its announcement the Bureau, a division of the U.S. Department of Labor, said unemployment was unchanged at 5.4%, while nonfarm payrolls increased by 112,000. Traders surveyed by Dow Jones Newswires and CNBC just before the report was released had expected a 220,000 increase in nonfarm payrolls.
The mortgage employment numbers consisted of 336,200 people in "Real estate credit," and 129,300 in "Mortgage and nonmortgage loan brokers."
Fueling some of the recent rise in real estate finance jobs are companies like Ameriquest, Homefield and Option One -- which have all announced job additions during the past month.