Where the jobs are: 44% of advertising and marketing executives polled said they expect their organizations to increase staff levels in the next 12 months. Not surprisingly, most said the hiring will come in the functions that bring in and maintain client relationships and among the industries where advertising has stayed strong in the last two years.
Spring rally moves into summer: The Standard & Poor's 500 index briefly passed the 1,000 mark for the first time since June 2000, as investors banking on a recovery continued to push markets to new highs. Unemployment climbed to a nine-year high in May, but investors were encouraged when job losses were lesser than expected, taking it as a sign that the economy is turning a corner. For the week, 32 AdMarket stocks were up and 18 were down.
Media stocks were active, after the Federal Communications Commission voted to relax ownership rules, and agencies climbed on news of the strong TV upfront market. Cordiant Communications Group got a boost from news that WPP Group is mulling a bid for its assets, while AOL Time Warner stalled on reports that it has taken its book publishing division off the block.
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended June 6, based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices May 30.