American ad agencies shed no fewer than 1,600 jobs in October, according to the US Bureau of Labor Statistics.
The monthly decline – the highest this year, reports the bureau – saw agency employment levels sag 0.9% from September to 179,000. This is the lowest level in nearly three years (since January 1999).
Year-on-year, October’s staffing decline eased slightly to minus 4.7% - but this apparent improvement must be viewed against the depressed post 9/11 jobs environment in October 2001.
Since employment peaked during the tech-fuelled goldrush of August 2000, US agencies have cut staff by 11.3%.
Data sourced from: AdAge.com; additional content by WARC staff