Media Companies Cutting More Jobs Than National Average

Since the beginning of the recession in December 2007, the advertising and media industries have cut 65,100 jobs, according to analysis of figures from the Bureau of Labor Statistics. Media Companies cut 41,000 jobs while advertising and marketing cut 24,000. These numbers place job loss percentage for media companies at 4.6 percent, and advertising companies at 3.1 percent. Both percentages are higher than the overall United States job market, which has lost 2.6 percent of jobs since December 2007.

The most job cuts in the media industry came from newspapers, who cut 31,200 positions, or 9.1 percent of total employees. Radio cut 8,100 jobs, a 7.4 percent cut, and magazines lost 4,500 jobs (a 3.2 percent loss) and broadcast television cut four percent of its workforce.

Only internet-media companies added jobs. 5,400 jobs have been created since the beginning of the recession for an increase of 7 percent. All advertising and marketing sectors slimmed down on employees except for those involved in internet-media, where 800 jobs were created.

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