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September 4, 2009
The number of mortgage workers rose in July for the first time in 10 months, while remaining well below year-ago levels, according to the Bureau of Labor statistics.
The number of mortgage workers increased to 267,200 in July, consisting of 197,100 workers in “realestate credit” and 70,100 in “mortgage and nonmortgage loan brokers,” according to data released today.
That compares with 265,500 mortgage workers in June – 193,500 in real estate credit, and 72,000 mortgage and nonmortgage loan brokers. The figures are not seasonally adjusted.
In July 2008, the number of mortgage workers was 308,800, consisting of 225,300 in real estate credit and 83,500 mortgage and nonmortgage loan brokers.
Overall employment in the financial services sector rose marginally in July on a non-adjusted basis, to 7,805,000 from 7,800,000.
But employment for the entire sector declined in August to 7,760,000. The detailed breakdown into specific categories is not yet available for August.
The total number of nonfarm workers was down in July to a non-adjusted 131,182,000, compared to 132,625,000 in June. The number declined further in August to 131,003,000.
The seasonally adjusted headline unemployment numbers in August, also released today, showed an increase to 14.9 million, a jobless rate of 9.7 percent, from 14.5 million (9.4 percent) in July, and 14.7 million (9.5 percent) in June.
Mortgage servicers have been hiring through the spring and summer to cope with delinquencies and loan modifications, while refinancings amid record low interest rates have created demand for new production personnel.
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