Confidence among accountants drops

The Accounting and Finance Employee Confidence Index, a measure of overall confidence among U.S. accounting and finance workers, decreased 1.3 points to 48.5 in the third quarter of 2008, reaching its lowest level since the survey began in 2005, according to a recent survey commissioned by The Mergis Group and conducted by Harris Interactive. The survey reflects a continued decline in workers' overall confidence as a result of concerns about the current job market, their ability to find a new job, and increased doubt in the future of their current employers.

Results from the Accounting & Finance Employment Report:

  • Sixty-four percent of accounting and finance workers believe the economy is getting weaker, a decrease of six percentage points from the second quarter of 2008.
  • Forty-one percent of accounting and finance workers report that they are likely to look for a new job, up seven percentage points from the previous quarter; yet only 48 percent of workers are confident in their ability to find a new position, reflecting a 12 percentage point decrease from the second quarter.
  • Sixty-seven percent of accounting and finance workers surveyed are confident in their current employers' future, a decrease of three percentage points from the second quarter of 2008.
  • "Market uncertainty has certainly increased in the third quarter as a result of the existing situation within the financial services sector. As expected, this uncertainty has affected accounting and finance workers' confidence," stated Jack Causa, senior vice president and group executive for The Mergis Group. "Though we anticipate seeing the continued effects persist throughout the fourth quarter, we remain encouraged by the sector's demand for accounting talent and its growth potential as developments continue in reporting regulations. We also foresee the emergence of new candidate opportunities in response to the government's intervention with financial institutions. Additionally, we have had success in placing financial services professionals in alternative industries where transferable skills can be parlayed into new career opportunities."

    You can read the full report.

    About The Mergis Group

    The Mergis Group is a professional placement firm that specializes in recruiting for positions in finance and accounting, engineering and manufacturing, sales and marketing, legal, and human resources. The firm provides recruiting services to Fortune 500 and small and mid-sized companies through its network of 38 offices nationally. The Mergis Group is a division of Spherion Corporation.

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