In a recent blog post, Paul Gumbinner, a friend and advertising recruiter, suggested NY unemployment in our sector is around 15%. At one point I read there are 275,000 advertising jobs in NY which suggests about 40,000 are on the beach.
Between that, reduced budgets and digital and earned media shops rightfully requiring pie, one can safely say there has been a retrenchment in the ad biz. As hard as it is to say, it has improved the business. The work product of ad agencies is improving; it’s more creative, meaningful, idea-based and friendlier — with the exception of all those ads about hitting on the Super Bowl. Even the new work out of Kraft Macaroni and Cheese’s new agency Crispin Porter seems more wholesome. Roots! (Perhaps it’s all the bicycles and mountain air in Boulder.) And if you are watching a good TV spot and smiling, there’s a good chance you’re watching something from JWT. Quite a renaissance for them.
It seems that all the pink slips got rid of many marginal players and a ton of haters. The latter group can now be found commenting on Adweek and Ad Age posts. Disruption (sorry Mr. Dru) has given way to heartfelt selling and that’s a good thing. Money is creeping back into agency pockets and human resources calendars fill up — let’s hope we hire higher up the food chain. Peace.