How is the job market in Phoenix July 2023: Accounting & Finance

Welcome to the Greater Phoenix Accounting and Finance Job Market Report for July 2023. In this report, we’ll provide insights into the current state of the local job market, shedding light on hiring trends and the experiences of both job seekers and employers. Whether you’re actively looking for a job, curious about the market, or involved in hiring, this report will provide valuable information.

Challenges in Hiring and Multiple Job Offers:

Finding the right candidate continues to pose challenges for companies looking to hire. Conversely, job seekers still receive multiple offers, regardless of their level, ranging from Staff Accountants to CFOs.

Unemployment Rate and Hiring Activity:

The unemployment rate for degreed individuals stands at 2%, which has remained consistent since January 2023.  

Companies in the Phoenix area are actively hiring, as evidenced by the number of unique job postings on platforms like Indeed and LinkedIn.

Job Postings July 2023 (unique job postings over the last 30 days):

  • 124 postings for Staff and Senior Accountant
  • 99 postings for Controller, Accounting Manager, and Assistant Controller
  • 14 postings for CFO

Compared to March 2023 (unique job postings for 30 days):

  • 179 postings for Staff and Senior Accountant 
  • 90 postings for Controller, Accounting Manager, and Assistant Controller 
  • 26 postings for CFO 

While the numbers have slightly decreased compared to March 2023, the job market remains robust across all levels, from entry-level positions to top-level executives.

Compensation Trends:

Regarding compensation, recent ADP reports for June 2023 indicate a 6.4% increase in annual pay for employees who stayed with their current company, compared to January, when it stood at 7.3%.  

Job changers experienced an 11.2% increase in June, down from 15.4% in January. 

This gradual decline in salary growth for job changers is the slowest recorded since October 2021.

Conclusion:

In conclusion, the job market in Greater Phoenix continues to be candidate driven. While there may be a slight shift in the tide, the numbers make it clear that job seekers have the upper hand.  

Hiring challenges persist for employers, with candidates receiving multiple job offers across all levels. Although compensation growth has slowed, it remains a competitive market for job seekers.

If you have any questions or are facing hiring challenges, please don’t hesitate to reach out to us using the contact information provided below. 

While you are here, check out the positions we are recruiting for on our Jobs page.  

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About The Resource Link

For almost two decades, The Resource Link has strategically placed Accounting & Finance talent with some of the best companies in Arizona! We consult with our hiring managers and candidates to dive into the best solutions and outcomes and we provide advice and feedback along the way. Don’t hesitate to reach out to us with any questions or just pick up the phone! We would love to hear from you to help you build the best team or find the best career.

 

 

Check Bernadette out on LinkedIN by clicking here.  

 

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Bernadette Grattan, founder of The Resource Link

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