|Want a job in advertising? Go to school.|
|Subject||Increase in Demand for Education During Economic Slump|
|Topic||Supply and Demand; Equilibrium|
|Key Words||Change in Demand; Economic Slump|
The recent economic slump has caused the advertising industry to shed "tens of thousands" of jobs in the last few years, causing a number of students to conclude that they are better off in school. Advertising schools have experienced significant increases in enrollment over the last two years. Creative Circus in Atlanta reports a 10% increase from a year ago, and the Miami Ad School has experienced an 18% increase over the previous two years.
These schools are principally trade schools for advertisers, offering certificates upon graduation, although some schools do offer masters-level degrees. These schools often provide applied training, putting its students into real-life advertising situations. Given the relative scarcity of jobs in the industry, would-be advertising workers are recognizing that emplyers will require additional training and expertise as graduates seek jobs in the industry.
As a result of their increased education, students are able to find jobs
more easily. Creative Circus reports that 85% of its 2002 graduates were
working in their chosen field within six months of graduation, some at
very prestigious advertising agencies.
(Updated November, 2003)
|Source||"Despite the Slump, Students Flock to Advertising Schools," Erin White, The Wall Street Journal, 14 October 2003.|
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