As 2023 came to a close, employment in the advertising, public relations, and related services sectors in the United States reached an all-time high, adding 1,900 jobs in December.
The robust performance in the ad industry contributed to an overall gain of 216,000 jobs in the U.S. job market for the same period, surpassing economists’ expectations and demonstrating the labor market’s resilience.
Advertising, PR, and Related Services Employment
U.S. employment in the advertising, PR, and related services sector reached 504,600 jobs in December, setting a new record based on seasonally adjusted figures. The sector experienced a gain of 1,900 jobs in December, rebounding from a loss of 800 jobs in November.
The Bureau of Labor Statistics (BLS) downwardly revised the November figure from a previously reported gain of 1,200 jobs.
Ad agencies, PR agencies, and related services, including media buying and outdoor advertising, contribute to this job growth, with ad agencies accounting for approximately 47% of the total jobs in this category.
Employment in this sector increased every month in 2023, except for March and November.
Ad Agency Employment
U.S. ad agency employment dropped to 236,500 jobs in November (non-seasonally adjusted), a decline of 1,700 jobs from the all-time high reached in October. The November decrease followed a gain of 3,000 jobs in October, with BLS upwardly revising the October figure from a preliminary increase of 2,700 jobs.
While December figures for ad agency employment are not yet available, the overall increase in advertising, PR, and related services employment in December suggests a likely rise in ad agency staffing for that month.
Unemployment Rate
The U.S. unemployment rate remained unchanged at 3.7% in December, based on a separate survey of households.
The jobless rate has consistently stayed at 4.0% or lower every month since December 2021, reflecting a period of unusually low unemployment not seen since the 1960s.
Overall U.S. Employment
The U.S. added 216,000 jobs in December, marking the 36th consecutive month of job gains since January 2021.
For the full year 2023, the U.S. economy added 2.7 million jobs on a seasonally adjusted basis.
BLS downwardly revised employment gains for November and October, citing additional reports from businesses and government agencies.
REELated:
Post-Pandemic Employment Recovery
After an unprecedented loss of 20.5 million jobs in April 2020 due to the COVID-19 pandemic, the U.S. economy has added jobs every month, except for December 2020.
Total U.S. employment, at 157.2 million jobs in December, has not only recovered all pandemic losses but has surpassed its pre-pandemic peak in February 2020.
The remarkable growth in advertising employment amid challenges in other sectors reflects the industry’s adaptability. The data signals a positive outlook for the advertising landscape as it continues to play a crucial role in the broader economic recovery.
Nominate Someone You know For The Reel Black List OR Reel Women
