FinanceRegs.com » Recession worries: What do they mean for Accounting?

Recession worries: What do they mean for Accounting?

April 8, 2008 by Carol Katarsky
Posted in: Hiring & training staff, Latest news & views

It’s not exactly news that the economy is, uh, in a “rough patch” at the moment. But some sectors of the economy are getting hit harder than others. Which leaves us wondering: What’s the outlook for Accounting pros? Turns out, not so bad.

The latest Manpower Employment Outlook Survey shows just a small downward tick for employment in the finance sector — 12% of firms say they’re expecting to increase headcount in the upcoming quarter. That’s down just one point from last quarter. (OK, 12% may not seem great, but compare that to industries like construction where only 3% are expecting to grow payrolls.)

Where you’re located makes a big difference too. The Northeast leads the way with slight growth — 16% of companies are planning to hire, up from 14%. In the South, hiring looks to remain basically flat at 17% (down from 18%).

Manpower predicts the Midwest and West will get hit the hardest. Only 10% of companies in the Midwest are planning to hire (down from 15%) and in the West that number is 14% (down from 24%).

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