tax prep down, payroll sees big swings.
by beth bellor
some of those heady new highs the accounting profession was seeing a year ago are seeing reversals now. we’re looking squarely at you, covid-19. feel free to move along anytime.
more on jobs: accounting jobs recovery slows | tax & accounting firms rehire two-thirds of pre-covid workforce | tax & accounting firms rehire two-thirds of pre-covid workforce | new job cuts at cpa firms | more jobs trends and staffing
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in this report, 卡塔尔世界杯常规比赛时间 highlights:
- current and long-term 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
nationally, the unemployment rate fell by 0.4 percentage point to 6.3 percent in january, as nonfarm payroll employment picked up 49,000 jobs and the labor market remains impacted by the coronavirus (covid-19) pandemic and efforts to contain it.
substantial job losses related to the pandemic first occurred in march (-1.7 million) and april (-20.7 million) of 2020. employment increased by 12.6 million as economic activity resumed from may through november but declined again in december (-227,000) after a surge in the number of cases. january employment was below its february 2020 level by 9.9 million, or 6.5 percent. a small bright note appeared in professional and business services, up 97,000 over the month, led by a gain of 81,000 in temporary help services. professional and business services employment has risen by 1.6 million since the april 2020 low but remains 825,000 below its february 2020 level.
the profession
the accounting profession, at 1,004,200, topped 1 million for the first time since march 2020. that’s up 3,800 or 0.4 percent for the month but down 18,500 or 1.8 percent for the year. pre-covid, the total headcount for the profession peaked at 1,027,700 in february 2020, crashing to 966,600 in april. at this rate, the profession would recover all its lost jobs by september.
weekly hours stood at 36.1 for the third straight month, down 6 minutes or 0.3 percent for the month. hourly earnings of $36.15 were down 12 cents or 0.3 percent for the month but up $1.18 or 3.4 percent for the year.
staff had an uptick of 700 for the month to 729,100, up 0.1 percent, but down 38,600 or 5 percent for the year. they put in 34.6 hours, up 6 minutes or 0.3 percent for the month and 36 minutes or 1.8 percent for the year. their earnings at $27.63 were down 51 cents or 1.8 percent for the month but up 2 cents or 0.1 percent for the year.
cpa firms
cpa firms employed 488,100, up 6,500 or 1.3 percent for the month but down 6,700 or 1.4 percent for the year. their hours at 36.5 were flat for the month and down 36 minutes or 1.6 percent for the year. earnings at $38.12 dipped 6 cents or 0.2 percent for the month but rose $1.29 or 3.5 percent year over year.
staff at cpa firms increased to 336,800, up 2,200 or 0.7 percent for the month but down 14,900 or 4.2 percent for the year. weekly hours at 35.6 were flat for the month and down 6 minutes or 0.3 percent for the year. after breaking $30 for the first time last month – admittedly barely, at $30.01 – earnings snuck back under to $29.98, down 3 pennies or 0.1 percent for the month but up $1.58 or 5.6 percent for the year.
tax prep
tax preparation services declined for the fifth straight month to 96,700, down 1,000 or 1 percent for the month but up 900 or 0.9 percent for the year.
payroll services
payroll services had a slight monthly uptick to 158,600 – 1,900 or 1.2 percent – but was down a painful 14,800 or 8.5 percent for the year. average weekly hours of 37.9 were up 6 minutes or 0.3 percent for the month and 1 hour 18 minutes or 3.6 percent for the year. employees made $35.18, down 21 cents or 0.6 percent for the month but up $2.36 or a healthy 7.2 percent for the year.
staff in payroll increased as well to 133,800, up 1,500 or 1.1 percent for the month but down 10,200 or 7.1 percent for the year. hours at 38.4 were up 24 minutes or 1.1 percent for the month and 2 hours 24 minutes or 6.7 percent for the year. weekly earnings dropped to $27.25, down 94 cents or 3.3 percent for the month and $1.15 or 4 percent for the year.
bookkeeping
other accounting services employed 259,400, up 1,100 or 0.4 percent for the month but down 800 or 0.3 percent for the year.
women
women in the profession overall numbered 640,300, up 700 or 0.1 percent for the month but down 17,800 or 2.7 percent for the year. at cpa firms they gained 2,200 spots or 0.7 percent for the month to hit 302,300, which was down 4,600 or 1.5 percent for the year. in payroll services their numbers inched up to 80,700, up 200 or 0.2 percent for the month but down a dismal 9,600 or 10.6 percent for the year.