U.S. ad employment saw a significant rise in the month of March, setting an industry high with an increase of 900 jobs in the sector.
With this addition, the number of jobs under advertising, public relations (PR) and other services has gone up to a record-breaking total of 520,900, according to the U.S. Bureau of Labor Statistics (BLS).
This category includes jobs in departments, such as direct mail and media buying. Ad agency employment accounts for 46% of the jobs listed under the ad and PR bucket, as per BLS' latest statistics.
With the adjusted numbers, the overall ad market gained an estimated 1,700 jobs per month over the last six months.
An Improvement From February's Numbers
Last month, we reported that the ad industry experienced a drop in numbers during February, cutting 400 jobs from its total tally.
This drop came unexpectedly, given the sector's consistent rise in recent months, with the U.S. job market experiencing steady growth since 2021.
Prior to February, January also experienced a drop in ad agency employment, declining from 238,600 in December to 237,400 at the start of 2024 on a non-seasonally adjusted basis.
This amounted to 1,200 job cuts in ad agency staffing for January.
However, this decline was expected, with ad agency employment historically decreasing during the December-January period of the last two decades.
U.S. Job Market Stays Healthy and Thriving
Looking at the bigger picture, the U.S. job market continues its upward trajectory with an addition of 303,000 jobs in March, surpassing economists' expectations.
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The last time these numbers were achieved were in May 2023, which also saw an additiion of 303,000 jobs.
March's positive figures mark the country's 39-month streak of experiencing growth in employment, despite major companies announcing layoffs.
Now, the total number of jobs in the U.S. has totaled to an all-time high of 158.1 million.
Notably, the past six months saw an average increase of 244,000 jobs per month.
Editing by Katherine 'Makkie' Maclang