Advertising has taken a real hit since COVID-19 shut most of the United States down in March. The cuts were largely due to pandemic-driven pullback in ad spending, causing almost 40,000 jobs to disappear. However there is good news – it seems employment in the industry may be on the rise again.
According to Ad Age, U.S. advertising, public relations and related services employment rose by 5,000 jobs in June. The outlet obtained that figure from the U.S. Bureau of Labor Statistics. That’s the first increase since employment since March.
U.S. employment in advertising, public relations and related services—ad agencies, PR agencies and related services such as media buying, media reps, outdoor advertising, direct mail advertising and other services—stands at 454,400 jobs.
Doing the math, that still 36,700 jobs vs. before the pandemic. Johnson says U.S. ad agencies staffing is showing signs of stabilizing.
The Bureau of Labor Statistics figures reveal that ad agencies cut 1,800 jobs in May—vs. a loss of 9,700 jobs in April.
As promising as this news is, substantial hiring isn’t likely to rise in the immediate future given hiring is still frozen for many brands.
Business Insider says agencies and brands will most likely to rely on freelancers for project-based work in the near future. This could hold especially true as positive novel coronavirus cases are on a sharp rise in the United States.
SOURCE: Ad Age