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Analyzing the Hiring Outlook for Accountants

Okay, so Roberto Half dropped their quarterly Financial Hiring Index and the message is that things are turning around for accounting and finance peeps looking for jobs out there. Their rationale? It’s the first net positive hiring outlook since the first quarter of 2009. Are we convinced that the ship is turning around? Hardly, dude. Let’s take a look at some of these details to see what’s is going on.

Good news: A net 1% (8% hiring, 7% firing) of CFOs surveyed plan to hire new employees in the last three months of the year. The fact that 84% of the CFOs surveyed don’t plan any hiring isn’t exactly thrilling but considering the last 2, wait 3 (going on 4?) years this, everyone is probably used to seeing even more dismal numbers.

Bad News: The hottest area of the country for hiring is the West South Central – defined as Arkansas, Louisiana, Oklahoma, Texas. Bob tells us (via Max Messmer, chairman and CEO of RHI) that a net 6% of CFOs surveyed plan on hiring in Q4. This is due to the “Retail, manufacturing, healthcare, and oil and gas services companies in the region are rebuilding their teams,” sayeth Maximilian. Of course if you cut Texas out of the equation, that amounts to approximately 12 jobs total. If you include Texas, then it’s more like 112. If you were considering moving to TX, those 100 or so jobs will likely be taken by migrants from AR, LA and OK before Halloween.

What is actually promising is that net 5% of CFOs surveyed plan on hiring in the “Pacific” states – Alaska, California, Hawaii, Oregon, Washington (IOW, California). Whether this actually pans out is another matter entirely.

Overall, only three out of nine regions in the survey have net positive results.

The other problem is that the industries that are doing most of the hiring are manufacturing and wholesale sectors. That means the outlook for all you people in financial (includes insurance and real estate), business/professional services and construction is still looking bleak.

So what can we take from all this? Basically that the only certainty at this point is that no one has any idea what’s going on.

CFOs Reveal Fourth-Quarter Hiring Expectations [Robert Half via FINS]