Two takes on the U.S. recession and what is likely to happen with the Public Relations industry this time around …
From Richard Edelman 6 a.m., Let’s Make the Argument:
It appears that the United States is officially in a recession. One need only pick up the business section of any newspaper to be depressed about declining retail sales, reductions in employment and tumbling home prices. During the last economic slowdown, the PR industry was slammed. Technology boutiques went out of business and full-service PR firms endure up to a 30% decline in revenues. While I believe the industry is better prepared this time around– with a more diversified business mix and more stable client base than the dot-coms that propelled growth in the late 90s–we still need to make a compelling case for PR in the face of looming budget cuts.
And from Mark Rose at PRBlogNews.com, New Media Drives PR Growth:
We are heading to a recession, if we are not there already. That’s when the PR industry begins to quake and tremble and budgets are indiscriminately slashed and AEs start jumping out windows. OK, maybe it’s not that dramatic, but the PR business is no fun – for agency owners, account people, or clients – during a recession. Why should this time be different?
And what about media mindshare’s take? Um … how about, “We report, you decide!” 
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