By Jim DeLeo, CPA, MBA/MST
Gray, Gray & Gray, LLP
The COVID-19 pandemic and resulting economic disruption has seen unemployment rates, both nationally and locally, rise steeply. Unlike many previous economic downturns, the impact is being felt across the board, including traditionally “white collar” jobs. But certain occupations are proving to be, if not recession-proof, at least resistant to the current tight job market. Among the jobs that are seeing the highest and fastest growing demand? Certified Public Accountant.
According to a trends analysis conducted by the online job search and networking platform LinkedIn, Certified Public Accountant was #6 on the list of most in-demand jobs for June 2020, and ranked #1 among those jobs seeing the fastest growth in demand. The analysis is based on job postings made during the month of May. Other high demand jobs are more directly pandemic-related, including nurse, supermarket worker, supply chain associates, cashier, and food service workers.
But it is not a reach to say that the rising need for certified public accountants was also created by the ongoing global health and economic crisis. Businesses facing extraordinary challenges and difficult financial conditions need the advice and guidance that CPAs are uniquely qualified to provide.
According to LinkedIn’s report, the rise in demand for CPAs “could be because this tax season has been more unpredictable than most, and the fact that many businesses are seeing their finances strained,” and that “Accountants…help businesses run like well-oiled machines, playing a critical role in maintaining operations…all the more important as companies deal with unprecedented volatility and on-the-fly adjustments.”
This expanded reliance on certified public accountants beyond traditional tax and audit services continues an evolution that has seen CPAs take on a more consultative role for their clients. This shift in focus comes as advancing technology makes historical financial reporting and tax compliance tasks more efficient and less time consuming, freeing certified public accountants to apply their experience and business acumen to assume a broader role for clients.
This new function takes on magnified importance in the current crisis. Helping a business owner or board survive through the shutdown was the first step; advising management on the best course of action as the economy is reestablished will be an even more critical mission. It is no wonder that CPAs are at the top the list.
The Most In-Demand Jobs1
- Software Engineer
- Supermarket Department Specialist
- Certified Public Accountant
- Project Manager
- Store Associate
- Supply Chain Associate
- Food Service Worker
Jobs with the Fastest Growing Demand1
- Certified Public Accountant
- Training Supervisor
- Supply Chain Assistant
- Freelance Engineer
- Support Associate
- Food Clerk
- Translation Specialist
- Marketing Strategy Consultant