Job prospects Income Tax Return Preparer near Charlottetown (PE)

Over the past few years (2021-2023), the labour market was balanced for Accounting and related clerks near Charlottetown (PE). The number of job openings was about the same as the number of workers available in this occupation.

Source Labour Market Information | Recent Trends Methodology

The employment outlook will be moderate for Accounting and related clerks (NOC 14200) 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.

Accounting and related clerks can be employed across a variety of industries. However, most employers for this occupation can be found in the accounting, tax preparation, book keeping and payroll services subsectors, working in independent accounting, payroll or consulting firms and other financial institutions, like banks.

Future job opportunities will continue to be moderated by improvements in computer-based technology and the increasing usage of accounting and taxation software. Given the relatively older age profile of this occupational group, job opportunities will arise from the need to replace workers who retire. Staff turnover will also create employment opportunities as some clerks obtain additional training and progress to professional accounting occupations.

Those willing to work overtime and on weekends during tax season and at the end of financial reporting periods will have better job prospects.

Here are some key facts about Accounting and related clerks in Prince Edward Island:

• Approximately 550 people work in this occupation.
• Accounting and related clerks mainly work in the following sectors:
  • Federal government public administration (NAICS 911): 21%
  • Accounting, tax preparation, bookkeeping and payroll services (NAICS 5412): 15%
  • Other retail stores (NAICS 44-45, except 445): 11%
  • Construction (NAICS 23): 10%
  • Provincial and territorial public administration (NAICS 912): 6%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 91% compared to 84% for all occupations
  • Part-time workers: 9% compared to 16% for all occupations
• 65% of accounting and related clerks work all year, while 35% 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 44 weeks compared to 41 weeks for all occupations.
• Less than 5% of accounting and related clerks are self-employed compared to an average of 13% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 20% compared to 51% for all occupations
  • Women: 80% 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: 30% compared to 28% for all occupations
  • apprenticeship or trades certificate or diploma: less than 5% compared to 11% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 46% compared to 25% for all occupations
  • bachelor's degree: 17% 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