Even If Recession Is Over, Advertising Biz Still Hurting
November 19, 2009 at 4:21 AM (PT)
Employment in the ad-industry is up for the first time in a year, reports AD AGE, "a hopeful sign of recovery following a deep recession. But there is reason to be cautious as there could be more job cuts ahead."
There's both good and bad news. On the upside, the report says advertising, marketing services, media -- added 800 jobs in SEPTEMBER, the first gain since OCTOBER 2008, according to AD AGE DataCenter's analysis of Bureau of Labor Statistics data. On the downside, while the economy is growing, the overall U.S. job market continues to contract, with employers reluctant to staff up until they see more proof of sustainable recovery.
Advertising industry job rates remain far below pre-recession levels. The industry has cut 188,700 jobs -- 11.4% of positions -- since the start of the recession. "Media employment, including TV, radio, newspapers, magazines and internet media, has dropped by 112,700 (12.8% of jobs) since DECEMBER 2007. The industry has eliminated 76,000 jobs (9.8% of positions) in advertising/marketing services since the recession began. Industry employment is above pre-recession levels in only one category: internet media companies/web-search portals, where staffing has increased by 5,700 jobs (7.4% of positions) since the recession began," writes AD AGE.