Positive Momentum In The Finance and Accounting Sector

  • jobs & the economy
  • February 21, 2013
  • economy
  • availability
  • employee confidence

Positive momentum is materializing for the finance and accounting sector, including a rebound in the overall confidence of workers within the profession, according to a new survey conducted by Harris Interactive on behalf of The Mergis Group.

The Finance and Accounting Index, a measure of overall confidence among U.S. finance and accounting workers, rose to 55.8 – ending a two-quarter decline. The strong reading showed growing confidence in  workers’ outlook on job availability and employability, although their optimism in the strength in the economy remained tepid.

Housing Market Rebound Drives Job Growth

“While the profession has been met by several challenges over the past four years, as have many sectors, it appears that the start of the New Year will bring about positive momentum for the industry,” said Steve McMahan, executive vice president of Randstad US, Professionals. “The continued bounce back of the housing market is fueling growth opportunities, particularly for mortgage underwriters and loan documentation specialists to help manage the increased workloads. In fact, home sales in the U.S. increased six percent in 2012, the first annual increase since 2005, according to a report by CoreLogic this month.”

According to the survey, more than half (53 percent) of finance and accounting workers are confident in their ability to find a new job, marking a 15 percentage point increase from third quarter. Meanwhile, one-third (33 percent) of workers say they are likely to look for a new job in the next 12 months, an increase from 26 percent last quarter.

Accountants and Auditors Should Expect A Strong Job Market In 2013

“In other industries, the need for accountants and auditors continues to grow, driven in part by government regulations such as the Dodd-Frank Act that impact the way companies are audited,” McMahan added. “Having reliable, qualified accountants and auditors to ensure the books are in order and that the organization is in compliance with various regulations is imperative. Not surprisingly, The Bureau of Labor Statistics also predicts employment of accountants and auditors will grow by 22 percent between 2008 and 2018 – much faster than the average for other occupations.”

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