Everyone is earning more this month, and most downs are slight.
By Beth Bellor
CPA Trendlines Research
The tax and accounting profession is not a bad place for job seekers, it seems. A new analysis by CPA Trendlines shows a lot of up notes, including some in the double digits.
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New highs are coming in:
- The accounting profession overall
- Staff earnings
- Payroll staff
- Payroll staff earnings
- Women overall and in CPA firms
In the national employment picture, total nonfarm payroll jobs rose by 175,000 in April, according to the Bureau of Labor Statistics. The unemployment rate at 3.9 percent and number of unemployed people at 6.5 million has changed little; same with professional and business services. Since August 2023, the unemployment rate has patrolled a narrow band of 3.7 percent to 3.9 percent.
The accounting profession employs 1,164,000 as of April. That’s up 1,700 or 0.1 percent for the month and 19,400 or 1.7 percent for the year. Workers average 36 hours per week, unchanged for the month and up 24 minutes or 1.1 percent for the year. They’re earning $41.29 an hour, up 35 cents for the month and 37 cents for the year, both gains of 0.9 percent.
Staff number 848,500, up 1,300 or 0.2 percent for the month and 20,700 or 2.5 percent for the year. They work 35.8 hours, unchanged for the month and up 1 hour or 2.9 percent for the year. They make $32.69, up 14 cents or 0.4 percent for the month and $1.38 or 4.4 percent for the year.
CPA FIRMS
CPA firms employ 555,200, the highest mark since August, up 500 or 0.1 percent for the month and 8,900 or 1.6 percent for the year. Employees put in 37 hours, down 12 minutes or 0.5 percent for the month and up 12 minutes or 0.5 percent for the year. They earn $43.55, up 24 cents or 0.6 percent for the month but down 6 cents or 0.1 percent for the year.
Staff at CPA firms number 381,400, down 300 or 0.1 percent for the month but up 4,900 or 1.3 percent for the year. They average 36.1 hours, unchanged for the month and up 18 minutes or 0.8 percent for the year. They make $33.73, up 4 cents or 0.1 percent for the month and 38 cents or 1.1 percent for the year.
TAX PREPARATION SERVICES
Tax prep employs 99,700, up 300 or 0.3 percent for the month and 4,100 or 4.3 percent for the year.
PAYROLL SERVICES
Payroll services have 221,600 on their rolls, up 800 or 0.4 percent for the month and 6,300 or 2.9 percent for the year. Workers average 35.4 hours, unchanged for the month and up 1.5 hours or 4.4 percent for the year. They make $39.38 – their most since June 2022 – up $1.59 or 4.2 percent for the month and $3.18 or 8.8 percent for the year.
Payroll staff climbed for the fourth straight month to hit a record 197,000, up 2,500 or 1.3 percent for the month and 19,000 or 10.7 percent for the year. Employees work 34.4 hours, down 30 minutes or 1.4 percent for the month but up 2.5 hours or 7.8 percent for the year. They earn a record $35.41, up 68 cents or 2 percent for the month and $4.29 or 13.8 percent for the year.
BOOKKEEPING
Other accounting services employ 285,200, up 400 or 0.1 percent for the month and 5,200 or 1.9 percent for the year.
WOMEN
Women in the profession overall number 745,300, up 3,700 or 0.5 percent for the month and 27,600 or 3.8 percent for the year. There are 340,100 women in CPA firms, up 2,300 or 0.7 percent for the month and 17,600 or 5.5 percent for the year. In payroll services, they number 100,800, down 1,100 or 1.1 percent for the month and 5,100 or 4.8 percent for the year.
