December 2008 saw a huge cut in ad industry jobs: 18,700 jobs were cut in the month alone, bringing the industry total to 65,100 during this current recession. The online sector was the only area that avoided the cuts, and online media jobs actually grew by 800 in December. The ad industry appears to be getting hit hard compared to other industries. According to the latest numbers from the U.S. Census Bureau, Advertising/marketing-services firms did away with 3.1% of staff, compared to the overall U.S. job market's total loss of 2.6 percent. Advertising Age reports the breakdown of job losses and gains by sector for the entire year of 2008:
- Radio — cut 8,100 jobs (7.4% of staff)
- Broadcast TV — cut 5,100 jobs (4%)
- Cable TV — added 2,500 jobs (3%)
- Magazine publishers — cut 4,500 jobs (3.2%)
- Internet-media companies — added 5,400 jobs (7%)
Read the full article here, which also features job losses and gain broken down by type of firm.