Mortgage Jobs Tumble

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MORTGAGE EXPERT
6 · 04 · 10

During the 30 days ended April 30, the number of people employed in the mortgage industry contracted by more than 2 percent. Compared to a year ago, mortgage employment was down nearly 7 percent.

A report today from the Bureau of Labor Statistics indicated there were 247,900 people working in the mortgage business during April.

Headcount dropped from a revised 253,400 in March, according to the Bureau, a division of the U.S. Department of Labor. In April 2009, there were 265,800 mortgage jobs.

The bureau reported 189,900 positions in “real estate credit,” lower than 193,500 in March.

“Mortgage and nonmortgage loan brokers” fell to 58,000 from 59,900.

Despite April’s decline in real estate finance jobs, overall U.S. employment increased by 431,000 jobs during May — reflecting the hiring of 411,000 temporary Census Bureau employees.

U.S. unemployment, meanwhile, fell to 9.7 percent last month, reflecting 15.0 million unemployed people. April’s unemployment rate was 9.9 percent.

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Mortgage Daily Staff

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