Hiring by mortgage companies stalled in May as owners trimmed their payrolls by 800 full-time employees.
The U.S. Bureau of Labor Statistics reported Friday morning that employment in the mortgage banking and brokerage sector edged down to 292,200 in May on a nonadjusted basis from 293,000 in April.
Hiring in the mortgage sector had risen for three straight months before signs of a coming slowdown in
Overall, Friday's jobs report shows employment in the mortgage sector is up 10% from May 2012.
Meanwhile, the U.S. economy created 195,000 jobs in June, compared to 195,000 in May. BLS revised the May jobs figure upward by 20,000.
Yet hiring by multifamily and single-family builders and contractors slowed in June.
The bureau reported Friday that residential builders hired 5,200 new construction workers in June, down from 5,500 in the prior month.
(There is a one-month lag in Bureau of Labor Statistics’ reporting of mortgage employment data.)
