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?
- 100 Staff and Senior Accountant
- 45 Accounting Manager to Controller
- 8 CFO
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.
We look forward to speaking. Thank you.
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