The U.S. Bureau of Labor Statistics reported Friday morning that employment in the mortgage banking and brokerage sector edged up to 295,300 in July from 295,000 in June on a nonadjusted basis.
However, mortgage banking companies laid off 900 full-time employees in July while mortgage brokers hired 1,200 new employees, according to the BLS report.
Overall, Friday's jobs report shows employment in the mortgage sector is up 7.5% from July 2012.
Meanwhile, the U.S. economy created 169,000 new jobs in August, up from a downwardly revised 104,000 in July. A month ago BLS reported 162,000 jobs were created in July.
Hiring in the construction trades was not robust either. Multifamily and single-family builders and contractors hired 4,300 new construction workers in August, down from 6,300 in the prior month.
Despite the disappointing jobs report, the unemployment rate edged down to 7.3% in August from 7.4% in July.
(There is a one-month lag in the Bureau of Labor Statistics reporting of mortgage employment data.)