Job prospects Accounting Technician near Charlottetown (PE)

Over the past few years (2021-2023), there was a labour shortage for Accounting technicians and bookkeepers near Charlottetown (PE). There were more job openings than workers available to fill them in this occupation.

Source Labour Market Information | Recent Trends Methodology

The employment outlook will be good for Accounting technicians and bookkeepers (NOC 12200) in Prince Edward Island for the 2024-2026 period.

The following factors contributed to this outlook:

• Employment growth will lead to a moderate number of new positions.
• Several positions will become available due to retirements.
• There are a moderate number of unemployed workers with recent experience in this occupation.

The demand for workers in this occupation is influenced by economic conditions and business activity. The Island economy is projected to expand at a respectable pace over the forecast period which should support employment growth in this occupation. However, population growth is expected to slow in the province due to the reduction in federal immigration targets. The impact this immigration measure will have on the Island's economy is at this time uncertain and therefore, may affect job opportunities in this occupation over the forecast period.

In addition to other relevant education, job prospects will improve for individuals with a proficiency in using related software. Individuals available to work part-time or overtime at the end of financial reporting periods and during the federal tax season may have better job prospects. Self-employed bookkeepers interested in establishing their own firms may wish to explore appropriate investment opportunities.

Here are some key facts about Accounting technicians and bookkeepers in Prince Edward Island:

• Approximately 1,000 people work in this occupation.
• Accounting technicians and bookkeepers mainly work in the following sectors:
  • Accounting, tax preparation, bookkeeping and payroll services (NAICS 5412): 31%
  • Construction (NAICS 23): 8%
  • Real Estate and rental and leasing (NAICS 53): 8%
  • Other services (except public administration) (NAICS 81): 7%
  • Federal government public administration (NAICS 911): 7%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 77% compared to 84% for all occupations
  • Part-time workers: 23% compared to 16% for all occupations
• 69% of accounting technicians and bookkeepers work all year, while 31% work only part of the year, compared to 59% and 41% respectively among all occupations. Those who worked only part of the year did so for an average of 45 weeks compared to 41 weeks for all occupations.
• 16% of accounting technicians and bookkeepers are self-employed compared to an average of 13% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 15% compared to 51% for all occupations
  • Women: 85% compared to 49% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: less than 5% compared to 11% for all occupations
  • high school diploma or equivalent: 21% compared to 28% for all occupations
  • apprenticeship or trades certificate or diploma: 10% compared to 11% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 47% compared to 25% for all occupations
  • bachelor's degree: 19% compared to 17% for all occupations
  • university certificate, degree or diploma above bachelor level: less than 5% compared to 8% for all occupations

Source Labour Market Information | Prospects Methodology