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Mortgage Employment News | Employment Index | Employment Statistics
Job additions, layoffs and employment lawsuits. Employment data from the Department of Labor, state tracking, reports and analysis. Job finding tips.

Brokers Push Up Mortgage Employment Numbers

Total mortgage jobs increase by 300 in December

Feb. 6, 2015

By Mortgage Daily staff

Hiring among all industries remained strong last month. Employment metrics also remained positive in home lending thanks to mortgage brokers.

U.S. employers added 257,000 nonfarm jobs in January, the Bureau of Labor Statistics reported Friday. Growth was off from the upwardly revised 329,000 the prior month.

But American companies have significantly racheted up hiring activity compared to the first month of 2014, when just a revised 166,000 jobs were added.

The government reported the unemployment rate at 5.7 percent, edging up from 5.6 percent in December.

In January 2014, the unemployment rate was 6.6 percent.

BLS data indicate that 288,100 people were working in the mortgage industry during December. The total excludes mortgage employees at banks and credit unions.

Non-bank mortgage staffing crept up from a month earlier, when 287,800 people were employed in the sector. The November figure was revised down from 293,200 originally reported.

In December 2013, there were 287,400 non-bank mortgage jobs. The year-earlier number was originally reported at 291,900.

December 2014's mortgage employment included 212,900 employees classified as "real estate credit." The segment was down from a revised 213,200 a month earlier and a revised 214,300 a year earlier.

The number of people working as "mortgage and nonmortgage loan brokers," however, increased to 75,200 from a revised 74,600 in November and a revised 73,100 in December 2013.

Based on an analysis of BLS data and origination market share data maintained by Mortgage Daily, estimated total mortgage industry employment -- including jobs at financial institutions -- was 640,100 in December, inching up from a revised 639,500 the previous month.

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