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Relevance: According to the Bureau of Labor Statistics, U.S. employers added 339,000 jobs in May, the most since January. However, the U.S. unemployment rate increased from 3.4% in April to 3.7% in May, indicating that mass layoffs outpaced job creation. Data from IBISWorld reveals the number of employees at digital advertising agencies in the U.S. has been increasing since 2015. In 2015, there were a little over 38,000 employees in digital advertising agencies compared to over 142,000 in 2022. This growth is not surprising, as digital advertising covers social media marketing and content marketing, both of which have surged in popularity in recent years to reach the younger generations and the growing number of smartphone users. Brands that should care: Brands looking to boost their advertising and marketing strategies should take advantage of the new talent in this sector. The significant increase in ad employment signals that ad agencies are looking to expand their operations, take on more clients and offer a wider range of services. |
What the numbers say: U.S. employment in advertising, PR, and related services reached 496,600 in May, its highest level since 2001.
Data from the Bureau of Labor Statistics, 14,200 jobs were added YoY in
this sector from May 2022 to May 2023. May saw a significant jump in ad
employment, with 2,600 additional roles. Ad agencies comprise nearly
half (47%) of these jobs.