The conclusion of strikes in Hollywood has led to a significant surge in employment in the sector during November. However, recent data indicates that despite the industry getting back on its feet, there are still over 25,000 fewer people employed compared to a year ago, suggesting that a return to pre-strike normalcy might be a prolonged process.
The U.S. Bureau of Labor Statistics (BLS) released its November jobs report on Friday, revealing that the motion picture and sound recording industries added 17,000 jobs during the month. This increase is largely attributed to the resolution of labor disputes within the industry, particularly involving the Writers Guild of America (WGA) and SAG-AFTRA. The total employment in the sector for November reached 462,600 people, a notable rise from the September figures of 431,500 people when the strikes were ongoing.
However, despite the positive upswing, the sector is still below the employment levels recorded in November 2022, which stood at 487,700 people. The BLS had reported peak losses in the motion picture industry, reaching approximately 50,000 people, before the rebound commenced following the resolution of the WGA strike in late September.
REELated:
The information sector as a whole, encompassing publishing, broadcasting, telecom, and computer infrastructure providers, has witnessed a decline of more than 104,000 jobs compared to the previous year, according to the BLS.
The new data suggests that while Hollywood is gradually returning to work, challenges such as a backlog of productions and the evolving entertainment landscape, marked by continued layoffs at various media and entertainment companies, might extend the timeline for employment recovery. This is especially pertinent considering the possibility of fewer TV shows and movies being produced, serving as a side effect of the strikes and the ongoing caution exercised by entertainment companies.
The end of what has been termed “Peak TV” could also signify a decline in TV employment, reflecting the broader shifts in the entertainment industry.
Despite the complexities in the entertainment sector, the overall job report for the U.S. was robust, adding 199,000 jobs and witnessing a decline in the unemployment rate to 3.7 percent. The recovery in Hollywood employment remains a dynamic process, with industry stakeholders closely monitoring the trajectory of the post-strike landscape.
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