cpa firms expand by 6%. tax prep takes losses.
new highs in headcounts and hourly wages.
by beth bellor
there were bright spots in several sectors of the latest employment figures, but let’s get the ball rolling with the most gleaming: payroll services, which set a couple of new highs on the way to positive year-over-year marks in every measure but hours.
and by “positive,” we mean the likes of 16 and 17 percent.
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payroll services overall hit a new high of 192,300 employees, up 1,500, or 0.8 percent for the month, and 28,800 or 17.6 percent for the year.
those employees worked 35.8 hours, up 12 minutes or 0.6 percent for the month but down 2 hours 6 minutes or 5.5 percent for the year.
their earnings set a record at $40.53, up 20 cents or 0.5 percent for the month and $5.18 or 14.7 percent for the year.
staff in payroll also set a new mark at 158,800, up 500 or 0.3 percent for the month and 22,200 or 16.3 percent for the year. hours at 36.5 were flat for the month and down 2 hours or 5.2 percent for the year. the record $30.83 earnings are up 4 cents or 0.1 percent for the month and $3.59 or 13.2 percent for the year.
on a broader national scale, total nonfarm payroll employment for the u.s. as a whole rose by 467,000 in january, while the unemployment rate was little changed at 4.0 percent, according to the latest data. before the coronavirus (covid-19) pandemic – february 2020 – the unemployment rate was 3.5 percent. in professional and business services, january saw growth by 86,000 jobs, reaching 511,000 higher than in february 2020.
employment in the accounting profession overall opened the year on a minor down note at 1,068,500, down 6,600 or 0.6 percent for the month but up 60,900 or 6 percent for the year. employees averaged 36.2 hours per week, up 12 minutes or 0.6 percent for the month and 6 minutes or 0.3 percent year over year. hourly earnings at $37.71 were down 21 cents or 0.6 percent for the month but up $1.45 or 4 percent for the year.
staff
staff in the profession numbered 784,700, up 1,200 or 0.2 percent for the month and 54,400 or 7.4 percent for the year. they worked 34.8 hours, up 12 minutes or 0.6 percent for the month and 6 minutes or 0.3 percent for the year. earnings hit a new high of $29.69, up 12 cents or 0.4 percent for the month and $1.88 or 6.8 percent for the year.
cpa firms
cpa firms employed 515,600, up 2,900 or 0.6 percent for the month and 25,000 or 5.1 percent for the year. they averaged 37 hours, up 24 minutes or 1.1 percent for the month and 30 minutes or 1.4 percent for the year. earnings of $39.56 were down 43 cents or 1.1 percent for the month but up $1.46 or 3.8 percent for the year.
staff at cpa firms numbered 354,000, down 1,700 or 0.5 percent for the month but up 17,200 or 5.1 percent for the year. they worked 35.2 hours, up 24 minutes or 1.1 percent for the month but down 24 minutes or 1.1 percent for the year. earnings hit a new high of $31.24, up 12 cents or 0.4 percent for the month and $1.42 or 4.8 percent for the year.
tax preparation services
tax preparation services employed 85,400, up 600 or 0.7 percent for the month but down 5,300 or 5.8 percent for the year.
bookkeeping
other accounting services employed 284,900, a slight new high up 700 or 0.2 percent for the month and 26,500 or 10.3 percent for the year.
women
women in the profession numbered 682,000, up 200 or statistically flat for the month and 41,400 or 6.5 percent for the year. at cpa firms the figure of 313,800 was unchanged for the month and up 10,800 or 3.6 percent for the year. in payroll services, women lost ground to 94,200, down 300 or 0.3 percent for the month but up 12,100 or 14.7 percent for the year.