After reaching a seven-year high in the first quarter of 2014, finance and accounting employee confidence dropped in the second quarter. The Randstad Professionals’ Finance and Accounting Employee Confidence Index fell 6.3 points to 58 from April through June but still remained above 50, which is the lowest index possible to be considered a positive reading.
Randstad US, based in Atlanta, said that virtually every sector of the professional marketplace experienced lower confidence levels in the first and second quarters of this year so far. Nevertheless, finance and accounting professionals continue to be among the most in-demand throughout the US labor market.
According to the Bureau of Labor Statistics, there will be as many as 165,000 additional accounting jobs created during the ten year period between 2012 and 2022, which would indicate a growth rate in that sector of more than 13 percent. Additionally, a recent online survey of finance and accounting professionals in the United States found that as many as 36 percent believe that there are more jobs available in their field this quarter than there were last quarter.
However, confidence among finance and accounting workers in their current employers dropped 16 percentage points from the first quarter to 55 percent, which may be the reason for the considerable increase in the number of workers in this sector who expect to be looking for a new job at some point over the course of the next 12 months. This climbed 15 percentage points in the second quarter to 39 percent, according to Randstad.
One of the major influences on the mindset of finance and accounting professionals has to do with the skills gap that exists in the sector. There are new skills and competencies that are being required of accounting workers and representatives. Randstad says that the fact that many new professionals don’t have these skills points to a lag in accounting curriculums at colleges and universities across the country.