Categories: OLD Media Moves

Business journalism job market may be improving

Nearly one out of every four business news operations plan to add staffers this year, up from one out of every five in 2011, according to an informal survey of business journalists conducted by the Society of American Business Editors and Writers.

In addition, the percentage of business news operations planning to cut staff in 2012 fell to 5.3 percent from slightly more than 8 percent last year.

Of the newsrooms that are hiring, 44 percent plan to add one position, while another 29.6 percent plan to add two positions. Most of the newsrooms that are hiring are looking for a reporter, while others are looking for section and department editors.

In addition, when asked about job prospects for next year, 2013, 17.3 percent said they plan to hire a business reporter, up from 8.9 percent who said they would do so a year ago.

The findings indicate that job prospects in business journalism are improving.

“While many parts of our industry still face significant challenges, it’s gratifying to see some evidence that the job market may be improving – if only slightly,” said Jill Jorden Spitz, assistant managing editor for business at the Arizona Daily Star and SABEW president. “After the deep cuts of years past, plans to replace business journalists as they leave or even to add a new position is reason to celebrate.”

The survey found that of those planning to hire a business journalist in 2012, 44.7 percent plan to recruit for the position, and nearly 80 percent said they plan to look externally, but only in their local market. More than half said they would look externally outside their market as well. Respondents could choose more than one answer.

The survey, which received 95 responses in February and in March, is the part of SABEW’s program of quantifying what’s happening in the business journalism job market. SABEW, which has its headquarters at Arizona State University, conducted the same survey in 2011 at this time.

Business news operations that have recently advertised openings include the business desk of The Columbian in Vancouver, Wash., Canadian Business magazine, InvestorPlace.com, CNNMoney.com and the business desk of the Los Angeles Times.