Paul Bedard of the Washington Examiner shares some interesting statistics about the media business.
In the latest sign that Washington operates in an alternate economy, journalism jobs around the country dove 22 percent in the last 10 years, but they spiked a whopping 38 percent in the nation’s capital, according to a new economic study. What’s more, salaries for Washington journalists rose 7 percent while diving nationally.
While 12,000 reporting jobs were eliminated in most markets in the last decade, the Washington journalism market expanded from 2,190 to 3,030. That is more than five journalists for every single House and Senate member.
In New York, by comparison, the drop was historic, from 5,330 jobs in 2005 to just 3,478 in 2015, said the study from Apartmentlist.com.
The study reviewed rents in major cities and showed how rents have spiked while the salaries of reporters hasn’t. That gap may be responsible for the shift by reporters, even award-winning journalists, to better paying public relations.
“Our analysis illustrated that reporter salaries are growing slower than rents in most metros. Nationwide, reporter salaries declined by 7 percent over the past decade while rents increased 9 percent. If this trend continues, publications will struggle to hire and retain talent,” said the report provided to Secrets.
