As Economy Weakens, Accounting Remains Strong


28 October 2008
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There is growing public unease over the state of the economy and declining job security but even in a depressed fiscal circumstances, some careers remain strong and even increase their demand for new recruits.

US News and World Report states that a recent CNN poll found that 60% of Americans believe the country is heading for a depression, while a Watson Wyatt study revealed that 26% of employers believe they will have to reduce their workforce in the next year.

Yet there a number of careers that have traditionally remained resilient through recessions, depressions and downturns - with accounting being among them.

When money becomes tighter, the site said, individuals and businesses are keener than ever to ensure every last dollar is accounted for.

Accountants' job prospects have also been bolstered in recent years by the introduction of stricter accounting and auditing regulations for businesses, the Department of Labor said.

Its projections show that between 2006 and 2016, the accounting and auditing profession is set to grow by 18%.

Figures from May 2006 show the average median earnings for those working in the field were $54,630.
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