Magazine article Folio: the Magazine for Magazine Management

The Recession's Not over Yet

Magazine article Folio: the Magazine for Magazine Management

The Recession's Not over Yet

Article excerpt

Anyone tracking job statistics from the Department of Labor knows that the recession is far from over in the media industry--all segments are operating at close to historic five-year lows. In our industry, by the end of February, there were only 124,600 people at work. That's on a par with November 1987, when there were about 125,000 people working in the field. The peak month was November 1990, with 130,800 people employed.

If we needed any more proof that we're still slogging along, there was the mid-April news that Conde Nast was closing down HG (House & Garden). When Mr. Conde Nast was alive, House & Garden was key to establishing the company's standard of excellence.

While most of the people at Conde Nast's newly acquired Architectural Digest were breathing a sigh of relief that their jobs were saved, the same could not be said of the rest of their one-time fellow employees at Knapp Communications. …

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