US ad employment fell by 2,100 jobs in March—biggest drop in two years

Advertising, PR and related services

U.S. employment in the Bureau of Labor Statistics (BLS) classification of advertising, public relations and related services came in at 492,200 jobs in March based on seasonally adjusted figures. 
 
The ad market lost 2,100 jobs in March after holding steady in February at January’s level.
 
BLS revised the February figure from a preliminary loss of 1,000 jobs it reported a month ago.
 
Advertising employment has been on a seesaw: Staffing fell in September, November, December and March; it rose in October and January; and it was flat in February.
 
The ad business scored strong job gains in 2021 through summer 2022 as the advertising market rebounded from pandemic losses. Then ad employment reached a plateau, with staffing in February (494,300) essentially unchanged from last August (494,600).
 
The March job cut is a concern: The decline of 2,100 jobs was the sharpest drop since January 2021. The question now is whether that’s a foreboding sign of what’s to come—in the wake of layoffs at numerous tech companies—or statistical noise that will be forgotten if a coming monthly job report shows a rebound. 
 
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 46%—of those jobs.