By Frank Byrt
Finance and accounting professionals' confidence in their own job prospects rose late last year, with more than half reporting they're confident they can find a new job, and almost a quarter reporting they think more jobs are available, according to the Mergis Employment Report for fourth quarter 2012.
In a February 26 press release, The Mergis Group, a professional placement firm, reported that its Finance and Accounting Employee Confidence Index, a quarterly measure of the overall confidence of US finance and accounting workers, rose 5.4 points to 55.8, thus ending a two-quarter decline.
Harris Interactive conducted the survey for Mergis by contacting 230 employed US finance and accounting workers online during the fourth quarter of 2012.
On the negative side, just over a third of those surveyed reported they think the nation's economy is getting weaker, a slight decrease of three percentage points.
Among the highlights from the survey is that 53 percent of finance and accounting workers are confident in their ability to find a new job, marking a 15-percentage-point increase from third quarter, and 23 percent say they think more jobs are available, a significant increase of eight percentage points from the previous quarter. Only 16 percent say they're not confident they could find a new job.
"Confidence among finance and accounting workers has rebounded after declining for two consecutive quarters, mirroring a projected year of growth for the industry in 2013", said Steve McMahan, executive vice president of Randstad Professionals, in the press release.
Apparently, due to their growing confidence, a third of the workers surveyed said they're likely to look for a new job in the next twelve months, an increase from 26 percent last quarter. However, 58 percent say they're not likely to make a job transition, representing no change from third quarter.
Finance worker demand is being helped by the bounce back of the housing market, which provides jobs for mortgage underwriters and loan documentation specialists, while "the need for accountants and auditors continues to grow, driven in part by government regulations such as the Dodd-Frank Act that impact the way companies are audited", McMahan said.
"Having reliable, qualified accountants and auditors to ensure the books are in order and that the organization is in compliance with various regulations is imperative. Not surprisingly, the Bureau of Labor Statistics also predicts employment of accountants and auditors will grow by 22 percent between 2008 and 2018 – much faster than the average for other occupations", said McMahan.
Access the fourth quarter Mergis Employment Report.