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 卡塔尔世界杯常规比赛时间 research.
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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, 卡塔尔世界杯常规比赛时间 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
overall, the national unemployment rate saw little change in june at 3.7 percent, but professional and business services was a bright spot. the sector added 51,000 jobs, more than doubling may’s increase of 24,000. the industry has been slower in 2019 at growth of 35,000 per month so far, compared to 2018’s average monthly gain of 47,000.
specifically, employment in the accounting profession hit a new record of 1,053,900 in june, the fifth straight month of new highs. that was up 3,700 or 0.4 percent for the month and 39,800 or 3.9 percent for the year. although to be sure, monthly hikes have steadily slowed since february’s 4,500.
employees are averaging 36.3 hours per week, flat for the month, and in the same 36.2- to 36.4-hour range they’ve maintained all year. year over year, that reflects an increase of half an hour or 1.4 percent. hourly earnings topped $34 for the first time, at $34.10 up 16 cents or 0.5 percent for the month and 97 cents or 2.9 percent for the year.
staff counts gained for the third straight month and hit a new high of 788,600, up 3,100 or 0.4 percent for the month. year over year the increase was 26,800 or 3.5 percent, respectable but the lowest in 2019, as increases have declined each month since january. after three months at 34.6 and a brief hop up to 34.9, staff hours have settled back to 34.7, down 12 minutes or 0.6 percent for the month but up 36 minutes or 1.8 percent for the year. earnings skipped around a little as well – $26.39 in february but $26.55 the rest of the year – until ticking up last month to $26.60, up 0.2 percent for the month and 63 cents or 2.4 percent for the year.
cpa firms
cpa firms eked out a new record by 600. figures have grown for five straight months, but only by 8,600 total. increases were 0.1 for the month and 15,600 or 3.3 percent for the year.
employees are working slightly less, 37.3 hours after three straight at 37.6, down 18 minutes or 0.8 percent for the month but up 6 minutes or 0.3 percent for the year.
after dipping under $36 twice this year in an up-down-up-down pattern, earnings stand at $36.16, up 19 cents or 0.5 percent for the month and 63 cents or 1.8 percent for the year. september 2018’s peak of $36.37 isn’t far off … or is it?
staff at cpa firms dipped for the fourth straight month, to 353,900, down from the record of 355,800 but only by 1,900. the figure was down 500 or 0.1 percent for the month but up 8,500 or 2.5 percent for the year. their hours have floated around the 36 range for the past year, settling most recently at 36.1, down 12 minutes or 0.6 percent for both the month and year.
staff earnings dipped for the second straight month after briefly tapping a new high, and were down 8 cents or 0.3 percent for the month but up 43 cents or 1.6 percent for the year.
tax preparation services
tax prep at 104,000 was at its highest point in the last year, marking four months of incremental gains. employment was up 2,800 or 2.8 percent for the month but swung down 2,800 or 2.6 percent for the year.
payroll services
payroll ticked up 1,800 to a new record of 193,000, the 15th straight month of growth. that’s up 0.9 percent for the month and 18,400 or 10.5 percent for the year. following a flat month their hours at 35.7 are up 12 minutes or 0.6 percent for the month and 36 minutes or 1.7 percent for the year. payroll earnings reached a new high of $31.57, breaking the april 2016 mark of $31.43. that’s up 40 cents or 1.3 percent for the month and $1.20 or 4 percent for the year.
staff in payroll mimicked the overall pattern, with a record of 161,500 reached by increases of 700 or 0.4 percent for the month and 14,700 or 10 percent for the year.
weekly hours were flat at 34.4, no real surprise because they’ve been at that level five of the last 12 months. year over year, that’s down half an hour or 1.4 percent. earnings continued a trend of teeny hikes, a total of 49 cents over three months. at $27.28, the rate is up 11 cents or 0.4 percent for the month and 62 cents or 2.3 percent for the year.
other accounting services
in bookkeeping, employees are regaining ground lost in late 2018 and early 2019. their numbers stand at 262,800, up 2,200 or 0.8 percent for the month and 3,600 or 1.4 percent for the year.
women
women barely hit a new high, 800 over the previous record, at 666,700. that mark might not stand, as it reflects an increase of 2,600 or 0.4 percent, offsetting the previous month’s 1,800 decline. year over year, the boost was 29,700, or 4.7 percent, but the increases have shrunk in the past two months.
numbers at cpa firms slid for the second straight month, with 300,800 marking a downtick of 2,100 or 0.7 percent for the month but up an uptick of 10,300 or 3.5 percent for the year.
in payroll, women continued four months of steady gains, reaching 97,400, up 3,300 or 3.5 percent for the month and 10,100 or 11.6 percent for the year.