The Job Market for Accountants in the United States

Current Landscape

• Estimated Accountants: Approximately 1,538,400 accountants currently work in the U.S.
• Projected Growth: The job market for accountants is expected to grow by 4.4% from 2022 to 2032.

Employability

• Employability Rating: Accountants have a B employability rating according to CareerExplorer, indicating strong job prospects.
• Future Demand: Over the next decade, the U.S. is expected to need 71,900 new accountants. This demand arises from:
  • 67,400 new positions.
  • 4,500 retirements of existing accountants.

Demand Factors

The demand for accountants is influenced by various economic and regulatory factors:

• Economic Growth: As the economy expands, more businesses require accounting professionals for tasks like bookkeeping, tax preparation, and management advice.
• Globalization: International business operations and mergers drive the need for accountants with expertise in global financial practices.
• Regulatory Changes: New laws and governance standards increase the demand for compliance and auditing professionals.
• Forensic Accounting: The need to detect financial fraud and ensure transparency creates a demand for forensic accountants.
• IFRS Adoption: The shift to International Financial Reporting Standards (IFRS) emphasizes the need for specialized financial reporting skills.

Accountants with a CPA certification, advanced degrees, and skills in accounting software are particularly sought after. Knowledge of international business and current legislation enhances job prospects, although competition for positions at prestigious firms remains intense.

Supply of Accountants

The distribution of accountants varies significantly across states. Here’s a breakdown of employed accountants by state:

State	Employed Accountants
California	143,670
Texas	116,000
New York	108,130
Florida	73,910
Pennsylvania	52,150
Illinois	51,250
Ohio	44,500
Virginia	38,330
Georgia	37,830
New Jersey	37,110
Massachusetts	35,260
Colorado	34,540
Michigan	32,300
North Carolina	31,470
Washington	30,460
Maryland	26,230
Missouri	25,130
Minnesota	23,970
Wisconsin	22,090
Indiana	20,190
Arizona	19,300
Tennessee	18,300
Alabama	15,770
South Carolina	14,630
Connecticut	14,490
Oklahoma	13,510
Kansas	12,390
Oregon	12,200
Kentucky	10,970
District of Columbia	10,860
Louisiana	10,380
Iowa	9,930
Utah	9,770
Puerto Rico	8,450
Nebraska	8,340
Nevada	7,830
Arkansas	6,660
New Mexico	5,790
Delaware	5,660
Mississippi	5,450
New Hampshire	5,040
Hawaii	4,670
South Dakota	4,410
Rhode Island	4,400
Maine	4,150
Idaho	3,960
West Virginia	3,760
North Dakota	3,490
Montana	3,340
Vermont	3,120
Alaska	2,180
Wyoming	1,750
Guam	520
Virgin Islands, U.S.	410

This data underscores the significant employment opportunities for accountants across various states, particularly in larger markets like California, Texas, and New York. As the demand for accounting professionals continues to grow, those entering the field can expect favorable job prospects.