US accounting industry tops 1 million workers

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The number of people employed in the accounting industry in the US has topped 1 million for the first time ever, according to research by CPA Trendlines.

The profession — including the bookkeeping, tax, payroll and CPA segments of the industry — had 1,001,700 people on the payroll in July, up 1,900 or 0.2 percent from the previous month and 35,700 or 3.7 percent from July 2014.

Staffers at CPA firms number 319,900 of the 449,300 total workers, up 1,200 or 0.4 percent for the month, and 9,800 or 3.2 percent on the year.

Professional tax preparation firms employ 117,400 of the million-plus workers in the tax, accounting and bookkeeping industry, which is 4,500 or 4 percent up for the month and 5,800 or 5.2 percent for the year.

Payroll agencies employ 195,000 workers — up 2,400 or 1.2 percent on the month but up 15,000 or 8.3 percent for the year.

The bookkeeping segment of the industry makes up roughly a quarter of the overall industry’s million-plus employees, at 246,100 workers. That’s up 2,000 or 0.8 percent for the month, and 2,100 or 0.9 percent for the year.

For more findings, read the article here.