Mortgage Brokerage Firms Continued Hiring in November

Mortgage & Real Estate

The U.S. Bureau of Labor Statistics reported Friday morning that employment in the mortgage industry edged up in November as hiring by mortgage brokerage shops continued for the 10th straight month.

Friday’s job report shows mortgage brokers hired 1,200 new employees in November while other mortgage lenders trimmed their payrolls for the second straight month.

BLS reported that employment in the mortgage banking and brokerage sector edged up to 284,900 in November from 284,600 in October.

Mortgage companies have added 22,800 full-time employees to their payrolls since January 2012. Mortgage brokerage firms are responsible for 14,200 of those new hires.

Meanwhile, Friday’s report shows the U.S. economy created 155,000 new jobs in December, compared to 161,000 in November. The November figure was revised up from 146,000.

The December report also shows a 30,000 jump in construction jobs, including 12,000 residential specialty trade contractors. In November, the bureau reported a 20,000 decline in construction workers which surprised many economists. One private economist said BLS is revising the way it estimates construction jobs.

(There is a one-month lag in reporting mortgage employment data.)

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