In today’s job market, marketing and creative professionals face unique challenges and opportunities. Depending on who you ask, the job market appears stalled, slowly chugging along, comfortably settling into a “new normal,” or roaring back to full force. This range of perspectives highlights the complexity of the current employment landscape and the diverse experiences of those on both sides of hiring.
In the hopes of shedding light on what’s going on in 2024 with the marketing and creative job market, we’ve dug around and found recent data, insights, and trends to give you a behind-the-scenes look. Let’s dive into what’s changing, what’s challenging, and where the bright spots are.
1. Part-Time Work: A Growing Trend
One of the most notable trends is the significant increase in part-time work. According to the Federal Reserve Economic Data (FRED), there has been an estimated increase of 920,000 part-time positions from February 2023 to February 2024. This surge points towards a growing demand for flexible, short-term employment opportunities. For marketing and creative professionals, this could mean a shift towards more project-based or freelance work, offering a chance to work with a variety of clients and industries, albeit with less job security.
2. The Decline in Full-Time Positions
Conversely, full-time job availability appears to be on the decline, with an estimated reduction of 285,000 positions in the same period. This trend suggests a cautious approach by businesses, possibly due to economic uncertainties or a strategic shift towards more agile, flexible workforce models. For individuals seeking the stability of full-time employment, this highlights their frustrations with limited opportunities while underscoring the importance of adaptability and continuous skill development.
3. Stability in Advertising and PR
Despite the overall contraction in full-time roles, the advertising and PR sectors show signs of resilience. According to data summarized by Ad Age from the Bureau of Labor Statistics (BLS), employment in advertising, PR, and related fields was recorded at 519,200 in February, only slightly down by 400 jobs from January’s all-time high. This stability indicates that despite broader market challenges, there’s a sustained demand for professionals skilled in communication, branding, digital marketing, and media relations.
4. Job Postings: A Digital Shift
The landscape of job postings has also transformed, with a notable decrease of 17-20% from pre-COVID levels for marketing and media roles. This trend could reflect a shift towards digital recruitment platforms and networks, challenging job seekers to adapt their search strategies and professional networking to online environments.
5. The Evolving Interview and Hiring Process
The process of landing a job has become more demanding, with longer interview processes that often include multiple rounds, testing candidates’ endurance and commitment. This shift aims to ensure a thorough vetting process but can be taxing for all involved. It emphasizes the need for candidates to be well-prepared, patient, and resilient throughout the hiring process.
Interestingly, the time to hire for marketing roles averages 48.6 days, which is the fastest among job types yet still a lengthy process. Anecdotally, at Celarity, we see our jobs close within an average of 27 days.
Looking Forward
As with anything, the job market is cyclical, and no matter where we find ourselves today or 6 months in the future, there will be both challenges and opportunities for marketing and creative professionals.
We’re here to assist with market insights, career advice, or finding your next opportunity. Whether you’re looking for work, struggling to find talent, or simply want to keep the conversation going, we’d love to connect! Our LinkedIn page is also a great resource to stay up to date on the latest insights and events for marketing, creative, and digital professionals.
