Jobs in real estate finance dropped by more than 6,000 in August.
Mortgage employment was 261,200 in August, data reported today by the Bureau of Labor Statistics indicated.
Jobs tumbled from a revised 267,300 during July. A year ago, mortgage employment stood at a revised 301,100.
Impacting August employment were 62 Wells Fargo & Co. layoffs at a Durham, N.C., wholesale operation; thousands of layoffs as a result of the fall of Taylor, Bean & Whitaker Mortage Corp.; 840 job cuts at JPMorgan Chase & Co.; 514 layoffs planned at U.S. Bank, N.A.; 81 terminations at Bank of America Corp.; and 132 jobs eliminated at Wells Fargo & Co.
“Real estate credit” positions accounted for 193,800 of the August total, down from 197,200 the prior month, the government said.
The number of “mortgage and nonmortgage loan brokers” fell to 67,400 from July’s 70,100.
The story was the same during September for overall U.S. employment, which saw a 263,000 decline, according to the bureau — a division of the U.S. Department of Labor. U.S. unemployment rose to 9.8 percent from 9.7 percent the prior month.
