|Despite a surge in refinance-related hirings, the mortgage sector failed to muster up enough new hirings to offsets job cuts.There were 271,800 people employed in mortgage-related jobs during January, data released today by the Bureau of Labor Statistics said.
January’s U.S. headcount fell from a revised 279,800 for December, the report said. Mortgage jobs were down more than 9 percent from a revised 307,900 during January 2008.
Employees in “real estate credit” accounted for 198,200 of January’s mortgage employment total, down from 204,700 during December. “Mortgage and nonmortgage loan brokers” were 73,600, off from 75,100.
The deterioration came despite a wave of hirings that emerged as refinance activity soared.
Among companies to add mortgage jobs during January were:
Layoff activity in January that was tied to mortgage lending included:
The bureau, a division of the U.S. Department of Labor, said overall U.S. employment fell 651,000 in February. The job losses were large and widespread and touched most major industries. Unemployment jumped to 8.1 percent in February from 7.6 percent in January.
back to current headlines