Unemployment Climbs in June But Financial Sector Adds Jobs
Mortgage industry workers no longer reported separately, but their new general category showed growth during the month
July 7, 2003
By MortgageDaily.com staff
The “financial activities” sector of the nation’s workers continues to show growth, employing 68,000 new workers during June, even as unemployment overall hit 6.4 percent, according to the Bureau of Labor Statistics. The numbers represent non-seasonally adjusted totals.
In its report detailing the number of workers in various non-farming industries, the separate category for mortgage industry professionals has been replaced by a more general category, “credit intermediation and related activities.” For the month of June, this category added 17,300 workers on a non-seasonally adjusted basis. According to the report, 2,799,800 employees now work in the credit intermediation sector.
The U.S. Department of Labor releases employment statistics on a monthly basis. The numbers are compiled by the Bureau of Labor Statistics and the U.S. Census Bureau.