For the people concerned about the accounting jobs market
Some people are concerned about the job markets prospects in the accountng sector. The recent WEF future of jobs report obviously adds fuel to the fire. I decided to try and find some data about the prospects for accountants.
The first interesting thing to research was whether the future of jobs report by the WEF has been right historically speaking. The 2020 report gives a similar outlook for 2025 as the 2025 report gives for 2030. That is, accounting jobs are at high risk of a decline in demand (see page 29 of the 2020 report). However, when we look at recent job postings on indeed in the accounting sector the index number for December 2024 stood at 130 (with 2020 standing at the base of 100). The overall job posting index number is 110 over the same period. In some odd fashion the job posting of software development roles on indeed declined with 30% to an index of 70 between 2020 and december 2024, while the 2020 WEF report indicated an increase in demand for pretty much all IT related fields.
So, the WEF report was far off in 2020, and it will likely be again. Accounting graduates have been on a (very) steep decline. Despite the risk of outsourcing and AI, the end of accountants has been predicted since invention of the computer, and so far there has only been an increase in demand for accountants.