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Mortgage Jobs Strengthen

Mortgage Jobs Strengthen

6,100 mortgage jobs added in May

July 5, 2004

By MortgageDaily.com staff

The government’s latest employment numbers showed mortgage jobs continued to grow for the fourth consecutive month.

The U.S. Bureau of Labor Statistics reported there were 6,100 more people working in the mortgage sector in May — jobs totaled 454,800 for the month, compared to April’s revised figure of 448,700.

The latest figure is slightly higher than that of 448,100 a year ago, the Bureau said, despite that mortgage application activity at that time was nearly two-thirds greater than its current level.

The Bureau, a division of the U.S. Department of Labor, reports the numbers about 30 days following the end of each month.

May’s jump primarily came from those working in Real Estate Credit — as the total of 325,300 increased by 5,600 from April, the report said. The rest of the total came from 129,500 mortgage and nonmortgage loan brokers.

Overall employment grew by 112,000 jobs in June, marking a sharp slowdown from the previous three months, the Bureau reported. Meanwhile, the unemployment rate held steady at 5.6% in May.

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