Employment in Mortgage Sector Up 12% from April 2012

Mortgage companies added 3,000 full-time employees to their payrolls in April following 2,500 new hires in the prior month, according to a newly released government report.

The U.S. Bureau of Labor Statistics reported Friday morning that employment in the mortgage banking and brokerage sector rose to 292,000 in April, up from 289,000 in March.

Overall, the jobs report shows employment in this sector is up 11.6% from April 2012.

However, recent increases in mortgage rates will likely crimp hiring going forward.

Meanwhile, the U.S. economy created 175,000 jobs in May, compared to 149,000 in April. BLS revised the April jobs figure downward from 165,000.

Hiring by multifamily and single-family homebuilders and contractors slowed in May.

The bureau reported Friday that residential builders hired 5,500 new construction workers in May, down from 13,800 in the prior month.

(There is a one-month lag in the Bureau of Labor Statistics reporting of mortgage employment data.)

Article source: http://www.nationalmortgagenews.com/dailybriefing/Employment-Mortgage-Sector-Up-1036812-1.html

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