Newspapers have declined the most of any industry in the U.S. since 2007, based on LinkedIn data, which was used in a 2012 economic report to President Obama from the Council of Economic Advisors

LOS ANGELES , March 14, 2012 () –

The size of the newspaper industry has decreased more than any other sector of the U.S. economy since 2007, according to data from LinkedIn Corp., reported the San Francisco Chronicle on March 8.

The newspaper business shed 28.4% of its jobs from 2007 to 2011, according to the statistics, which were used in a 2012 report done by the Council of Economic Advisors (CEA) for President Obama.

On the upside, job growth for online publishing was 20.4%, but this was not enough to fully offset the loss in print newspaper jobs, according to LinkedIn, the San Francisco Chronicle reported.

Newspapers were at the bottom of a graph done by LinkedIn to show the top U.S. industries in terms of job growth and losses between 2007 and 2011.

Retail was just above newspapers and declined 15.5% during the period. Construction was also a major shrinking industry listed.

At the top of the growth industries in the graph was renewables and environment, which expanded by 49.2%; followed by the Internet, up 24.6%; and online publishing, up 24.3%, reported the San Francisco Chronicle.

Throughout the sample period, newspapers, as well as supermarkets and telecom continued to shrink, while social media and digital technology offered jobs that were among those in highest demand.

LinkedIn worked with the CEA to delve further into industry trends both during and after the 2007-2009 economic recession. The data were used by the CEA in February’s Economic Report of the President, the San Francisco Chronicle reported.

Mountain View, California-based LinkedIn is the world’s largest online networking tool for professionals, with 150 million members worldwide, according to the company’s website.

The primary source of this article is the San Francisco Chronicle, San Francisco, California, on March 8, 2012.

 

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