State of the Greater Phoenix Accounting & Finance Job Market Report for October 2022

Hi. I’m Bernadette. Welcome to the State of the Job Market Report for October 2022 for the Greater Phoenix area, focusing on accounting and finance jobs.

In this report, you will find out exactly what’s going on for hiring and salaries here in the Greater Phoenix area for accounting and finance positions

Layoffs?

I’ve been hearing from our clients that we’re speaking with that they feel like it should be easier to find candidates right now with all the companies doing layoffs out there. 

While the reality is companies might be doing layoffs, they’re not doing them in accounting and finance here in the Greater Phoenix area. As you know, we don’t over hire in accounting and finance. So, there’s generally not a surplus of individuals that can be laid off in accounting and finance. We’re steady with very few layoffs in accounting and finance, at least right now.

Unemployment Rate

Remember that the unemployment rate for degreed individuals was only 1.9% in October 2022. This is the lowest that I can ever remember it being, and it is still a tough competitive hiring job market out there right now.

We have noticed a dramatic decrease in the amount of 100% remote positions posted, especially from out-of-state companies. This is a benefit to you as your hiring competition has decreased.

Are there fewer Accounting & Finance Jobs?

The number of jobs posted online has remained relatively high. We analyzed the number of postings from LinkedIn & Indeed (No duplicates or agencies) and found:

  • 100 Staff and Senior Accountant
  • 45 Accounting Manager to Controller
  • 8 CFO

However, according to Zippia and LinkedIn, when they compile information from multiple sources, they show numbers between 200 and 300 hundred job postings. These are postings online right now for Accounting & Finance talent. There are a lot of jobs out there right now, targeting accounting and finance individuals in the greater Phenix area.

Money

According to ADP’s October 2022 salary report, annual salaries year over year were up 7.7%. But for individuals that changed jobs, annual salary increases were 15.7%.

In looking at the numbers, it is in somebody’s best interest to switch jobs because chances are they will make more money. Is that sustainable long term? I don’t know. But this is the state of our job market right now.

The Future

Making things more challenging is the feeling that people don’t want to change jobs right now because if we go into a recession, they don’t want to be the last person in the first out. 

Overall, the demand for accounting & finance remains high. Companies are hiring, and the numbers have remained relatively high over the last few months. 

We are here to help you with any of your accounting & finance hiring needs. Additionally, if you have questions or want more information, please reach me at the contact information, or schedule a time to talk.

We look forward to speaking. Thank you.

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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.

 

 

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Bernadette Grattan, founder of The Resource Link

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