{"id":5004,"date":"2009-12-04t10:12:09","date_gmt":"2009-12-04t14:12:09","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=5004"},"modified":"2024-08-14t11:30:00","modified_gmt":"2024-08-14t15:30:00","slug":"accounting-loses-4400-jobs-in-november","status":"publish","type":"post","link":"\/\/www.g005e.com\/2009\/12\/04\/accounting-loses-4400-jobs-in-november\/","title":{"rendered":"accounting loses 4,400 jobs in november"},"content":{"rendered":"

continuing choppy up-and-down pattern, says bls today.<\/strong><\/p>\n

\"click<\/a><\/strong><\/strong>
click to enlarge<\/figcaption><\/figure>\n

in the strongest jobs report since the recession began, the government reported today that the nation had practically staunched its jobs hemorrhaging, months ahead of anticipation.<\/p>\n

the labor department reported 11,000 jobs jobs lost in november, driving the unemployment rate down to 10%,\u00a0 from 10.2% in october.<\/p>\n

in the accounting and bookkeeping services sector, the job loss was 4,400, declining from a workforce of 935,000 in october, to 931,000 in november, on a seasonally adjusted basis.<\/p>\n

november’s seasonally-adjusted five-tenths of one percent retreat followed a revised october gain of four-tenths of one percent and a revised six-tenths of one percent decline in august. year over year, the accounting sector declined 10% from last year’s 941,000 level, seasonally adjusted.<\/p>\n

on a non-seasonally adjusted basis, the accounting and bookkeeping sector lost seven-tenths of one percent of its workforce from october to november, to stand at 882,700. year over year, that’s an 11% decline from november 2008’s level of 892,700, not seasonally adjusted.<\/p>\n

for some perspective, here’s the 20-year view:<\/strong><\/p>\n

\"click<\/a>seasonally adjusted accounting and bookkeeping employment peaked at 968,700 jobs in december 2007, the onset of the latest recession, and has declined to 931,000, a loss of 37,700 jobs, or a 4% decline.<\/p>\n

meanwhile, the 20-year chart for only cpa firms, looks like this:<\/strong><\/p>\n

\"click<\/a><\/p>\n

it shows that, for the latest month available, october, employment stood at 414,900, preliminary and not seasonally adjusted. that’s down from the year-ago figure of 437,700, or 5% off.<\/p>\n

the same chart shows that cpa firm rosters peaked at 444,900 just last march. since then, firms have reduced their payrolls by 7,200 jobs, or about a 2%.<\/p>\n

previous market tops for cpa firms came in march 2001, with 434,500 jobs; march 2006, 418,300 jobs; and march 2008, 444,800 jobs. market bottoms are at august 1993 at 297,300 jobs and august 2003, with 356,300 jobs. that said, cpa firms made a net gain of 55,200 jobs from the august 2003 nadir to august this year.<\/p>\n

accounting firms remain, long-term, a growing business.<\/p>\n