Gulf Coast Readers explains where the most growth is during this economic crisis. The publishing industry is where the US wages are growing most.
With the universally-feared fiscal cliff, a number of industries have suffered. Across the board there were price cuts, tax bumps, drops in personnel, and other unsettling changes. With everything shaking up like this, people were fairly uncertain of where to turn for stability. However, in one industry that people had already given up on, things are still looking up.
Many US wages are growing, most surprisingly of all, in the publishing industry. Within the past six years, 2012’s fourth quarter showed the largest annual growth in wages for media and publishing. While the national average wage index went up by 3.5 percent, this sector saw an increase by 4.6%. This sector includes public relations, entertainers and performers, as well as media and communication workers.
The reason for this seems to be a result of the very tight workforce. While many people find it hard to land a job nowadays, once they do, the roles are very profitable. Apparently, employers have been forced to do more with fewer employees during the slow economic recovery. Since they can’t afford to bring on new people, the few that remain are rewarded with greater pay.
“Almost all media businesses are doing a similar volume of work in 2012, but with a fewer headcount.” This is what Paco Underhill, founder of Envirosell, had to say about the trend. The New York-based, consumer-behavior research and consulting firm has helped in unveiling these statistics. “If an employer is getting more work out of better people, that means they have to compensate them for what they are doing.”
Gulf Coast Readers, a large scale magazine distributor, recognizes the trend as well. While most people claim that the printed written word is dying out, they continue to do their business. Their sales have stayed the course, even though the producers of the publications are forced to do more with less. It only stands to reason that the same income spread across fewer employees nets bigger personal gains.
However, the gains haven’t been universal. Business operations services saw very little wage growth. While producers of content are fighting to hold on, they experience greater benefits by maintaining their numbers. However for those affiliate businesses, the numbers aren’t as positive.
Merely aiding in the development of distributed materials isn’t showing as fruitful an outcome as in time gone by. One method for these publishers to stay afloat is to lessen their reliance on outside sources, and complete more work in-house.
Gulf Coast Readers is a producer of magazines. They distribute magazines to people all over the country.