While the U.S. economy continues to create more jobs, roles at the nation’s advertising agencies are disappearing.
Preliminary figures from the Bureau of Labor Statistics (BLS) show American businesses added 139,000 jobs in May on a seasonally adjusted basis.
In contrast, positions at U.S. advertising agencies, which the government reports on a one-month delay, declined from 220,500 in March to 219,500 in April.
Overall, the number of jobs at ad agencies has dropped nearly 4% from a peak of 228,000 in April 2023.
Employment across the advertising industry, including PR firms and other related services, declined from 490,700 jobs in April to 488,600 in May—a 0.4% decrease.
Figures like these align with fears about job security at agencies, especially those owned by major holding companies.
Amid layoffs, consolidation, and the rise of artificial intelligence—which ad giant WPP chief executive Mark Read said will shake up the workforce—employees are concerned about the future.
A recent survey of Adweek readers found 49% of holding company agency employees feel insecure about their job. A slightly smaller amount—44%—said they felt secure.
“Job security is freaking people out,” one holding company agency employee, who asked to remain anonymous given the subject matter, told ADWEEK. The person noted many staffers are concerned about what the proposed IPG-Omnicom merger will mean for their career.
Additional findings from the ADWEEK survey, which polled more than 380 participants, reveal nearly half of holding company employees are looking to leave the agency world entirely.
