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Mortgage Employment Continues Positive Trend

Mortgage Employment Continues Positive Trend

457,300 mortgage jobs in June

August 6, 2004

By staff

Despite continuous announcements of layoffs by mortgage lenders, jobs in the sector edged up for the fifth month in a row, according to the government’s latest employment data.

The number of people working in mortgage-related jobs totaled 457,300 in June, which marks an increase of 3,000 from May’s revised figure, the U.S. Bureau of Labor Statistics reported. Last year at this time, less people worked in this sector as the number was 448,100.

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

June’s total was comprised of 329,900 people working in Real Estate Credit, and 127,400 mortgage and nonmortgage loan brokers, according to the report.

While U.S. mortgage employment continued upward, companies such as Washington Mutual and Bank of America have announced massive mortgage job layoffs.

The Bureau said the unemployment rate was essentially unchanged at 5.5%, or 8.2 million people, in July.

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