Those looking to secure new jobs or move roles within the marketing and advertising sector could be in for a difficult time as adland vacancies have fallen by more than 10%.
Job postings across the advertising, marketing and PR industries fell by 11% in March, according to the latest monthly data from recruitment search specialist Adzuna.
The drop in vacancies is the largest fall of any industry sector over the period, as firms become more protective of their bottom line and scale back on their marketing budgets.
Difficulties have been felt throughout the UK marketing sector in recent months, particularly in television. TV is currently facing the worst decline in ad revenue in 15 years, and broadcasters have been forced to make cuts across core areas of the business.
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Elsewhere, brands are cutting back on campaigns or cancelling them entirely as the impact of the recession continues to bite.
The job crunch has come despite UK adspend growing by 6.1% last year, to £36.6 billion.
Earlier this year, advertising tycoon and WPP founder Sir Martin Sorrell warned that that ‘client caution on marketing spend’ would be likely to mean a tough 2024 for the UK advertising sector.
His comments came after a downturn in the tech sector affected advertising spend last year, with brands committing to fewer marketing projects. Sorrell’s current firm, S4, laid off hundreds of staff last year as a result.
The overall number of jobs listed with Adzuna in March was down by 17% compared to the same period a year ago, marking the fifth month of decline.
