Saturday, March 11, 2023

Ad business cut 1,000 jobs in February


Advertising, PR and related services

U.S. employment in the Bureau of Labor Statistics (BLS) classification of advertising, public relations and related services came in at 494,300 jobs in February based on seasonally adjusted figures. 

The ad market lost 1,000 jobs in February following an increase of 2,000 jobs in January.

BLS upwardly revised the January figure from a preliminary gain of 1,400 jobs it reported a month ago.

Advertising employment has seesawed over the past six months: It fell in September, November, December and February; it rose in October and January.

After strong gains in 2021 through summer 2022 as the ad market rebounded from pandemic losses, ad employment has plateaued.

When all is said and done, ad staffing in February (494,300) was almost unchanged from September (494,000).

This BLS jobs bucket includes ad agencies, PR agencies and related services such as media buying, media reps, outdoor advertising, direct mail and other services related to advertising. Ad agencies account for the biggest portion—about 46%—of those jobs.



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