Finance & Accounting Worker Confidence Hits Nearly Seven-Year High
Press release from the issuing company
Monday, May 19th, 2014
The Randstad Professionals' Finance & Accounting Employee Confidence Index reached a near seven-year high in the first quarter of 2014, rising by three points to 64.3. The last time confidence levels were this high in this sector was in 2007, at 67.5 in the third quarter.
The score represents the highest confidence level among all industries surveyed by Randstad, including engineering, IT, manufacturing and logistics, office and administration and healthcare. The online survey of 152 finance and accounting employees, conducted by Harris Poll on behalf of Randstad Professionals, also found renewed confidence among workers regarding job security and the future of their current employers.
Nearly three-quarters (71%) of finance and accounting workers feel confident in the future of their current employer, representing a 14 percentage point improvement from 57 percent last quarter. Additionally, the clear majority (82%) believes they are not likely to lose their jobs in the next 12 months, rising significantly from 69 percent in the fourth quarter of 2013.
"We aren't surprised to see finance and accounting workers possess the highest confidence level among all industries we survey," said Rebecca Callahan, Group President, Randstad Professionals. "The outlook for jobs in the finance and accounting sector is very optimistic, as demand for these skills continues to grow. In fact, several finance and accounting-related professions were among the top five 'Best Business Jobs of 2014,' according to U.S. News and World Report.
"Topping the list at number one was market research analysts, a role which the Bureau of Labor Statistics (BLS) predicts will grow by 31.6 percent between 2012 and 2022," Callahan added. "Accountants secured the number three spot as the Labor Department predicts more than 166,000 new openings will be created between now and 2022. Finally, personal financial advisors will be in large demand as the BLS anticipates a 27 percent employment growth over the next few years. These job titles mirror our own client needs—along with public accountants and internal auditors—and represent the skillsets that are highly sought after right now."
Q1 2014 Survey Highlights:
Finance and Accounting Workers Slightly Less Confident in Ability to Find New Jobs
- A little over half (56%) of finance and accounting employees are confident in their ability to find a new job, dropping three percentage points from the previous quarter.
Economy's Strength Growing, According to Finance and Accounting Workers
- A significant improvement from last quarter, more than four-in-10 (41%) finance and accounting workers believe the economy is getting stronger, and only 20 percent believe the economy is weakening – a 12 percentage point decline from Q4 2013.
Confidence in Employers' Future Grows
- Just over seven-in-10 (71%) finance and accounting workers feel confident in the future of their current employer, representing a 14 percentage point improvement from 57 percent last quarter.
Job Security Rebounds This Quarter
- The clear majority (82%) of finance and accounting employees believe they are not likely to lose their jobs in the next 12 months, jumping significantly from 69 percent in the fourth quarter of 2013.