[eMarketer] Advertising industry has worst job loss in 19 months

Advertising and related industries lost 8,700 jobs in September, a sharp reversal after growth during the summer and the category’s largest loss since January 2021, when about 6,000 jobs were shed, per monthly figures from the US Bureau of Labor Statistics.

Overall jobs increased by 263,000 last month, making advertising’s steep losses especially notable.

The last time advertising positions declined while overall jobs picked up was in May, when jobs fell by 2,400. Those losses recovered throughout the summer, and additions reached an all-time high in August.

Rapidly increasing inflation has been a hot topic throughout the year, and while consumer spending has remained relatively stable despite that, industries have been waiting nervously for the other shoe to drop.

eMarketer posits that a rocky economy doesn’t change the fact that advertising is undergoing several crises of its own making.

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