February’s job growth: 275K new jobs, 1K in accounting.

TLDR:

Key Points:

• Employers added 275,000 jobs in February, exceeding economists’ expectations
• The unemployment rate increased to 3.9% and the BLS revised job numbers for December and January

Employment in February increased by 275,000 jobs, with job gains mainly in healthcare, government, and food services. The professional and business services sector added 9,000 jobs, including 1,000 in accounting. The average hourly earnings also increased.

President Biden highlighted the economic progress during his State of the Union speech, but the number of accountants remains insufficient. The accounting profession has lost jobs in recent years, and there is a shortage of both entry-level and experienced professionals.

This article discusses the latest employment data and challenges in the accounting profession, emphasizing the need for more professionals and skill development.