4_100 New Accounting Jobs Added in February

4,100 New Accounting Jobs Added in
February
The U.S. Bureau of Labor Statistics reported that 20,000 jobs were added to the U.S. job market
in February, including 4,100 jobs in accounting and bookkeeping services. The overall
unemployment rate declined to 3.8 percent. Professional and business services employment
(including employment in accounting) trended upward in February, along with wholesale trade
and health care employment, while construction employment saw a decrease.
The 20,000 jobs added in February came in well under forecasts. Vice president of major
accounts at LaSalle Networks Alan Jagnandan does not foresee job growth in the accounting
and finance space slowing down any time soon, though. Wages are going up, with salaries in
the accounting space rising 10 percent for analysts and accountants. Demand for degreed
talent is rising, but so is the demand for non-degreed, clerical back-office roles. Jagnandan
predicts that a high demand for clerical workers but a scarcity of good talent will result in hourly
wages increasing.
The number of unemployed workers fell by 300,000 in February to 6.2 million. The
unemployment rates for adult men, whites, and hispanics decreased in February, while the
unemployment rates for adult women, teenagers, blacks, and asians showed little to no change.
The rate of long-term unemployment (defined as a worker who is jobless for 27+ weeks) was
virtually unchanged.
The average hourly wage rose to $27.66; the average hourly wage for private-sector production
and nonsupervisory workers increased to $23.18.
The January partial federal government shutdown likely played a major role in these figures.
Additional employment statistics available at the U.S. Bureau of Labor Statistics.
The accounting industry continues to see job growth
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