In 2016, the government counted 1,397,700 people working in the field as auditors and accountants. By 2026 they anticipate a growth of 10 percent or 139,900 jobs, bringing total employment to 1,537,600.
Why is the Profession Growing?
1. A Growing Economy. More new companies means more financial records to be analyzed and
reported.
2. More IPOs. Once a private company goes public, the amount of financial reporting increases substantially.
3. Globalization. Doing business overseas means complying with multiple tax codes. There are issues related to M&A and trade.
4. Technological Advancement. While routine accounting tasks will be more automated, the advisory and analytical role of the job will move to center stage.
Where’s the Demand for Accountants?
The BLS also reports the top five states for growth in the accounting profession will be California, Texas, New York, Florida and Pennsylvania.
The BLS has an overall job growth projection for all occupations as 7 percent over the 2016 – 2026 period. With 10 percent growth in the accounting sector and 19 percent growth in the financial manager sector, skills within this industry are in high demand.
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