The Ad Market

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Ad agency employment continued to drop in April, but the rate of job losses remains low. With a recovery now expected to begin in the next two quarters, there is hope that employment will stabilize soon.

But past layoffs have taken their toll on ad professionals' moods. How is employee morale at your firm, compared to a year ago?

More bad news for the recovery: Word of a terrorist attack on the U.S. Embassy in Pakistan and a negative turn in consumer confidence capped another weak spot for stocks. The University of Michigan consumer confidence index dove in June, which could signal a slowdown in the all-important consumer spending supporting the economy. Only eight AdMarket stocks were up for the week, 42 were down.

Omnicom Group led other agency companies down after a critical Wall Street Journal article. (See story, P. 3.) Digitas was the only agency company to gain during the week, after it reaffirmed its guidance to investors and announced a stock buyback. Clear Channel Communications and Univision dropped after both were named in a suit to stop the acquisition of Hispanic Broadcasting Corp. (See The Week, P. 10.)

Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketers, agency and media companies for the week ended June 14, based on stock trading data supplied by Bloomberg financial news service. All comparisons are based on closing prices June 7.

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