Plunge in Performing Arts Jobs

Up to now, paid employment at performing arts companies has held up pretty well in the downturn. In 2010 the number of jobs at music, theater, dance, and similar groups was only about 6% below the 2007 level, a decent performance considering the depth of the downturn.

But in the last few months cuts in funding seem to have finally hit hard. Over the past year, employment at performing arts companies has dropped a sharp 16%, according to today’s figures from the BLS. Performing arts employment is now at the lowest level since 1990.

The chart below shows the year over year change in performing arts employment, based on a 3-month moving average.

In all likelihood, this will not be the end of the decline, since funding is still being cut.For example, the Alabama State Council on the Arts has cut its grants to state arts groups by 25% for the next fiscal year. For the performing arts, this is the moment where recession turns into depression.

About Michael Mandel 127 Articles

Michael Mandel was BusinessWeek's chief economist from 1989-2009, where he helped direct the magazine's coverage of the domestic and global economies.

Since joining BusinessWeek in 1989, he has received multiple awards for his work, including being honored as one of the 100 top U.S. business journalists of the 20th century for his coverage of the New Economy. In 2006 Mandel was named "Best Economic Journalist" by the World Leadership Forum.

Mandel is the author of several books, including Rational Exuberance, The Coming Internet Depression, and The High Risk Society.

Mandel holds a Ph.D. in economics from Harvard University.

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