US ad employment jumped by 2,500 jobs in April

Source: Bureau of Labor Statistics. Seasonally adjusted. Expanded jobs data: AdAge.com/adjobs. Credit: Infographic by Ad Age. Photo: iStock Employment in advertising, public relations and related services climbed by 2,500 jobs in April, scoring a new all-time high. But the monthly employment report from the U.S. Bureau of Labor Statistics revealed some recent weakness in ad agency employment. Overall U.S. employment rose by only 175,000 jobs in April, coming in below expectations amid signs of a cooling labor market. The unemployment rate, based on a separate survey of households, ticked up to 3.9% in April from 3.8% in March. Below, Ad Age Datacenter breaks down the report—by the numbers. Ad spending, marketing, and financial stats Fast facts and figures on marketers and advertising from Ad Age Datacenter Click here Advertising, PR and related services U.S. employment in the Bureau of Labor Statistics (BLS) classification of advertising, PR and related services came in at a record 522,900 jobs in April based on seasonally adjusted figures. The ad market gained 2,500 jobs in April following an increase of 400 jobs in March. BLS downwardly revised the March figure from a gain of 900 jobs reported a month ago. Since the beginning of 2023, ad employment has increased every month except for February 2023, March 2023 and February 2024, when the ad market lost 400 jobs. Recent ad employment shifts sound like a broken record: Up 2,500 jobs in January, down 400 in February, up 400 in March, up 2,500 in April. This BLS jobs bucket includes ad agencies, PR agencies and related services such as media buying, media reps, outdoor advertising, direct mail and other services related to advertising. Ad agencies account for the biggest portion—about 45%—of those jobs. Over the past six months, the average monthly gain for the ad market was about 1,400 jobs. These ad employment gains came despite cutbacks over the past year at media companies, ad-centric tech firms and some agencies. Top marketers, brands and agency ventures Ad Age Datacenter’s definitive rankings of the biggest U.S. and global advertisers and agency companies Click here Employment in the broad BLS classification of media streaming distribution services, social networks and other media networks and content providers fell to 220,500 jobs in March on a non-seasonally adjusted basis, down 700 jobs from February. Employment in the classification of web search portals and all other information services totaled 149,100 jobs in March on a non-seasonally adjusted basis, down 900 jobs for the month. Staffing is significantly below the all-time high of 162,100 jobs reached in late 2022. Ad agencies U.S. ad agency employment dropped to 236,000 jobs in March on a non-seasonally adjusted basis, down 2,200 jobs. That was the sharpest month-on-month decline since early 2021. The March decrease followed a gain of 800 ad agency jobs in February. BLS upwardly revised the February figure from a preliminary gain of 700 jobs reported a month ago. Ad agency employment has been unsettled since late last year—surging in October, slumping in November and rebounding to an all-time high (238,600) in December. Employment was down in January, up in February and down again in March, when staffing was back to its November level. BLS reports ad agency employment on a one-month lag, so April figures aren’t yet available. But the April increase in advertising, PR and related services employment suggests that ad agency staffing rose last month. U.S. ad agency employment March 2024 vs. previous month: -2,200March 2024 vs. year earlier: +9,600 Source: Bureau of Labor Statistics. Not seasonally adjusted. Expanded jobs data: AdAge.com/adjobs. Ad Age World’s Largest Advertisers 2023 Ad spending, rankings and analysis for the top 100 advertisers Click here Unemployment rate The U.S. unemployment rate, based on a separate survey of households, edged up to 3.9% in April from 3.8% in March. The jobless rate has stayed within a range of 3.4% to 4.0% every month since December 2021, a stretch of unusually low unemployment not seen since the 1960s. (The unemployment rate stayed within a range of 3.4% to 4.0% from December 1965 through January 1970.) U.S. unemployment rate April 2024: 3.9% Source: Bureau of Labor Statistics. Seasonally adjusted. Become an All Access subscriber Get access to exclusive resources including Leading National Advertisers, World’s Largest Advertisers, Agency Report, Agency Review Tracker and TV Pricing Report. Click here U.S. employment The nation in April added 175,000 jobs based on seasonally adjusted figures, below economists’ predictions. April’s job increase marked 40 consecutive months of job gains, an uninterrupted winning streak that began in January 2021. Over the past six months, the average monthly increase was 242,000 jobs. BLS said the economy gained 315,000 jobs in March, upwardly revised from the 303,000 jobs reported a month ago. That was the biggest monthly job increase since early 2023. BLS said 236,000 jobs were added in February, downwardly revised from the 270,000 jobs reported a month ago. BLS monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors. Following an unprecedented loss of 20.5 million jobs in April 2020 as the nation locked down in the coronavirus pandemic, the economy has added jobs every month except for December 2020. Total U.S. employment (158.3 million jobs in April) has recovered all of its pandemic losses, topping its February 2020 pre-pandemic peak (152.3 million) to reach a new all-time high. The World Health Organization in January 2020 declared the coronavirus outbreak a global public health emergency and in March 2020 classified COVID-19 as a pandemic. The group’s director general, Tedros Adhanom Ghebreyesus, in May 2023 determined that “COVID-19 is now an established and ongoing health issue which no longer constitutes a public health emergency of international concern.” Ad Age All Access subscribers can see an expanded table showing advertising employment back to 2000 at AdAge.com/adjobs. That table incorporates employment data revisions made by BLS in February 2024 in its annual benchmarking process and updating of seasonal adjustment factors. Month-to-month change in U.S. nonfarm payrolls April 2024 vs. previous month: +175,000 Month/year Jobs increase (decrease) Jan. 2023 482,000 Feb. 2023 287,000 March 2023 146,000 April 2023 278,000 May 2023 303,000 June 2023 240,000 July 2023 184,000 Aug. 2023 210,000 Sep. 2023 246,000 Oct. 2023 165,000 Nov. 2023 182,000 Dec. 2023 290,000 Jan. 2024 256,000 Feb. 2024 236,000 March 2024 315,000 April 2024 175,000 Source: Bureau of Labor Statistics. Seasonally adjusted. Sign up for Ad Age All Access for ongoing data and insights on all of the most-advertised brands from Ad Age Datacenter.

US ad employment jumped by 2,500 jobs in April

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