For all of 2008, ad agencies and marketing services firms cut 24,000 people, or 3.1% of the industry workforce. When media companies are added in, the percentage of displaced personnel averages out to 3.9% -- either way, well above the U.S. job market unemployment level increase of 2.6% since "the troubles" began. There were different results for different sectors of the industry; ad-fueling graphic design firms lost 9.9% of staff on average, and "traditional' agencies, 3.2%. Only marketing consultancies and PR agencies (two of the smallest sectors) managed to increase employment.
--Posted by Todd Obolsky, Vault News & Commentary
Want to be found by top employers? Upload Your Resume
Join Gold to Unlock Company Reviews