tax prep services slash 10,000 jobs as busy season begins

even as headcounts rise at cpa firms.

by beth bellor
卡塔尔世界杯常规比赛时间

employment figures in accounting are running hot and cold, with new highs seen in earnings overall, for staff and at cpa firms, as well as in cpa firm employment.

more on jobs: all staffed up? new tax prep hiring stalls on eve of busy season | hiring and pay trends in tax & accounting | what’s the profession going to do with 79,000 new accounting graduates? | tax & accounting salaries increase 2.8% | regional cpa firms go head-to-head with big four in talent wars
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tax preparation, meanwhile, is bleeding jobs in the double digits.

in this report, 卡塔尔世界杯常规比赛时间 analyzes:

  • current hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the profession,
  • average hourly earnings for each segment,
  • average hours worked per week by segment and
  • trends regarding women in the accounting workforce.

nationally, employment changed little in professional and business services in the latest month. unemployment overall remained at 4.1 percent with the addition of 200,000 jobs.

chart of average hourly earnings
^ overall average hourly earnings

 

overall accounting profession employment, at 971,600, was the lowest it’s been since april 2016. the profession lost 10,100 employees over last month, down 1 percent and 9,000 or 0.9 percent over the previous year.

average weekly hours at 35.5 were flat for the month, up 12 minutes or 0.6 percent for the year. average hourly earnings hit a new high at $32.56, up 29 cents or 0.9 percent for the month and $1.31 or 4.2 percent for the year.

chart of staff hourly earnings
^ staff average hourly earnings

 

staff employment was its lowest since may 2016 at 739,800, down 4,200 or 0.6 percent for the month and 11,900 or 1.6 percent for the year. staff hours at 34 were down 12 minutes or 0.6 percent for the month but up 6 minutes or 0.3 percent for the year. earnings ticked up 9 cents to a new high of $25.52, a monthly gain of 0.4 percent, and up $1.11 or 4.5 percent for the year.

cpa firms

employment at cpa firms was at a new high of 479,900, up 600 or 0.1 percent for the month and 7,200 or 1.5 percent for the year. hours worked dropped to 36.4, down 12 minutes or 0.5 percent for the month but up 6 minutes or 0.3 percent for the year. earnings hit a new record as well at $35.26, up 30 cents or 0.9 percent for the month and $1.22 or 3.6 percent for the year.

staff at cpa firms numbered 353,800, up 400 or 0.1 percent for the month and 3,200 or 0.9 percent for the year. they worked an average 35.8 hours per week, down 12 minutes or 0.6 percent for the month but up 48 minutes or 2.3 percent for the year. their earnings at $26.89 were up 13 cents or 0.5 percent for the month and 73 cents or 2.8 percent for the year.

chart of tax prep employment
^ tax prep employment

 

tax prep

tax preparation services took a steep plunge to 83,300, the lowest since october 2014. that’s down 15,400 – a staggering 15.6 percent – for the month and 9,500 or 10.2 percent for the year.

payroll

overall employment in payroll services is at 168,900, up 1,100 or 0.7 percent for the month and 800 or 0.5 percent for the year. employees were working 35.3 hours weekly, up 12 minutes or 0.6 percent for the month but down 42 minutes or 1.9 percent for the year. they were making $29.45 an hour, up 39 cents or 1.3 percent for the month but down 99 cents or 3.3 percent for the year.

payroll staff numbered 141,800, up 1,300 or 0.9 percent for the month but down 500 or 0.4 percent for the year. hours averaged 34.6, down 24 minutes for the month and 30 for the year, respective declines of 1.1 and 1.4 percent. earnings of $25.60 were up 18 cents or 0.7 percent for the month and 87 cents or 3.5 percent for the year.

bookkeeping

employees in other accounting services totaled 253,100, up 900 or 0.4 percent for the month but down 200 or 0.1 percent for the year.

women

women in the profession now number 613,100, down 4,400 or 0.7 percent for the month but up 1,500 or 0.2 percent for the year. there are 294,100 women in cpa firms, down 400 or 0.1 percent for the month but up 4,500 or 1.6 percent for the year. women in payroll at 80,900 hit their highest point since january 2015, up 1,100 or 1.4 percent for the month and 1,500 or 1.9 percent for the year.