jobs

Pre-COVID-19, Accounting Profession Hits New Highs

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We’ll be comparing apples to zebras for a while.

By Beth Bellor

What a difference a month makes. The accounting profession set several new records in the latest employment figures … but.

For our analysis on the COVID-19 impact on the profession, see Planning for the Coronavirus Recession

That “but,” of course, is the global pandemic. The numbers almost seemed dated as soon as they were released, because we know many of those gains quickly melted away.
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Headcounts Dip by 3,500 in Tax & Accounting

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Hourly earnings hit new high.

By Beth Bellor

CPA firms and payroll agencies are trimming their headcounts going into Busy Season 2020, according to new data obtained by CPA Trendlines Research

In this report, CPA Trendlines highlights:

  • Current hiring trends in each of the bookkeeping, payroll, tax and CPA segments of the industry (all data seasonally adjusted)
  • Average hourly wages for key segments
  • Typical hours worked per week
  • Trends concerning women in the accounting workforce

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Tax & Accounting Headcounts Hit Record High

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Records set in several segments.

By Beth Bellor

With year-end employment figures in, it remains a great time to be an accountant.
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By the Numbers

In this report, CPA Trendlines highlights:

  • Current hiring trends in each of the bookkeeping, payroll, tax and CPA segments of the industry (all data seasonally adjusted)
  • Average hourly wages for key segments
  • Typical hours worked per week
  • Trends concerning women in the accounting workforce

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Hiring Growth Rate Shows Signs of Leveling Off

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Still healthy, but not as good as last year.

Who’s hiring, who’s not.
Who’s quitting, who’s staying.
And why and why not.
Join the survey. Get the facts.

By Beth Bellor

“Stay the course.” Remember that chestnut?

MORE ON JOBS: What Staffing Shortage? | Payroll Agencies Lead Jobs Growth in the Tax & Accounting Industry | Hiring Trends: Accounting Hits 4.2% Expansion Rate | Hiring Trends Flash Warning Signs of Slowdown in Tax & Accounting | CHARTS: Tax & Accounting Among Biggest Jobs Creators in U.S. | Hiring Surge Powered by Growth in Payroll Agencies
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Maybe it’s not time to rock the boat. The accounting profession is more than holding its own, with new highs seen in:

  • overall earnings,
  • staff earnings,
  • CPA firm staff numbers and earnings, and
  • payroll services earnings.

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What Staffing Shortage?

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Demand for new hires shows signs of weakening.

By Beth Bellor

High-quality tax, accounting, and finance talent remain in high demand, with about 33% of companies reporting open positions, according to a new study that also forecasts strong hiring demand over the next 12 months.

MORE ON JOBS: Payroll Agencies Lead Jobs Growth in the Tax & Accounting Industry | Hiring Trends: Accounting Hits 4.2% Expansion Rate | Hiring Surge Powered by Growth in Payroll Agencies | Tax Shops Cut 6,200 Jobs | Salary Survey: Top Skills Getting Top Pay
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“More than one-third of the human resources professionals and hiring managers who participated in the Q4 2019 hiring forecast survey reported unfilled jobs in accounting and finance,” according to Sagar Pandya, CPA, VP of operations at Brilliant. “This number is lower than last quarter and lower than any other quarter in the past year.”
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Payroll Agencies Lead Jobs Growth in the Tax & Accounting Industry

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Join the survey. Get the Results

“The opportunities for CPA firms only increase.”

Get more from the “Talent, Career, and Growth Strategies: Job Satisfaction and Hiring Trends Tracking Poll” 
Join the survey. Get the results.

By Beth Bellor

“It’s a good time to be a CPA,” says Brian Esko, and – with some notable exceptions – it’s hard to disagree.

The managing director and executive recruiter at Parker & Lynch and Ajilon Search points to an unemployment rate of roughly 1.5 percent for accounting, almost 300,000 new jobs created over the last 12 months and wages rising at roughly 3 percent annually.

MORE ON JOBS: Hiring Trends: Accounting Hits 4.2% Expansion Rate | Hiring Trends Flash Warning Signs of Slowdown in Tax & Accounting | CHARTS: Tax & Accounting Among Biggest Jobs Creators in U.S.
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Esko

“For a CPA, there are more opportunities than ever in the market and companies are doing a better job of rewarding and retaining their people through compensation increases and internal growth opportunities,” Esko says.

In this report, CPA Trendlines highlights:

  • Current hiring trends in each of the bookkeeping, payroll, tax and CPA segments of the industry (all data seasonally adjusted)
  • Average hourly wages for key segments
  • Typical hours worked per week
  • Trends concerning women in the accounting workforce

READ MORE →

Hiring Trends Flash Warning Signs of Slowdown in Tax & Accounting

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CPA firm staffing and wage growth signal weakness.

By Beth Bellor

Not only are several sectors in the tax and accounting industry charting new records in employee numbers, but wages often are up as well, according to new CPA Trendlines research.

MORE ON JOBS: CHARTS: Tax & Accounting Among Biggest Jobs Creators in U.S.
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

But key indexes are flashing signs of a decelerating expansion, possibly augering a slowdown, or even cutbacks, in the months to come.

In this report, CPA Trendlines highlights:

  • Current hiring trends in each of the bookkeeping, payroll, tax and CPA segments of the industry (all data seasonally adjusted)
  • Average hourly wages for key segments
  • Typical hours worked per week
  • Trends concerning women in the accounting workforce

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CHARTS: Tax & Accounting Among Biggest Jobs Creators in U.S.

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Also: who’s hiring, who’s not among client business sectors.

By CPA Trendlines Research

The tax and accounting industry is adding jobs at the rate of 37,000 per year, according to the latest data available, making the profession one of the fastest growing sectors of the U.S. economy.

At the top of the jobs ranking are individual and family services, computer systems design and related services, amusements, gambling, and recreation, home health care services, and warehousing and storage.

Meanwhile, if you have clients in apparel, printing and related support activities, commercial banking, department stores, electronics and appliance stores, telecommunications, sporting goods, hobby, book, and music stores, the outlook is not so rosy — They’re all trimming payrolls.

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