Friday, March 9, 2012

Newspapers fastest shrinking industry in the U.S.

"If you want to be a journalist, think online," says  Business Insider's Matt Rosoff.
"Newspapers have shed a greater percentage of jobs since 2007 than any other industry in the United States, according to data published today by LinkedIn," he reports.
"That's not surprising, given how ad revenue in the newspaper industry has fallen off a cliff since 2000.
"LinkedIn has professional profiles from millions of users, and also is a big tool for recruiters, so it's got a ton of accurate data about jobs. This year, the Council of Economic Advisors, which works for President Obama on economic issues, turned to LinkedIn for insight into which industries are hurting.
"On a percentage basis, newspapers shed the most jobs, down 28.4% between 2007 and 2011.
The good news: online publishing had job growth of 20.4%. But it didn't add as many jobs as newspapers lost.
"Other losers include restaurants and warehousing, each of which shrank by more than 20%. Retail shed the greatest number of positions.
"The big winner? Renewables and environmental jobs, which grew 49%. Internet-related companies added the most jobs, and had the second-biggest percentage growth at 24.6%.

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