Job prospects Accountant in Newfoundland and Labrador
Job opportunities for Financial auditors and accountants (NOC 1111) are good in Newfoundland and Labrador over the next 3 years. These job prospects are also applicable to people working as an accountant.
Note: These employment prospects were published in December 2021 based on the information available at the time of analysis. The next update will be in December 2022. To learn more, see our FAQs. You can also find additional information on the Canadian Online Job Posting Dashboard.
Job opportunities in Newfoundland and Labrador
The employment outlook will be good for Financial auditors and accountants (NOC 1111) in Newfoundland and Labrador for the 2021-2023 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 small number of unemployed workers with recent experience in this occupation.
While the number of individuals and small businesses using affordable or free software to file taxes and do bookkeeping tasks has increased, a baseline demand for more complex corporate and public sector accounting remains, which is generally proportional to overall economic activity in the province. Having a recognized credential, such as a CPA, is important to employers, as well as having strong interpersonal skills and prior work experience. Workers in this occupation are concentrated in the Avalon Peninsula due to the large number of professional establishments and government offices in St. John's. Some accountants and auditors may experience a rise in demand during the federal tax filing season. However, the increase during tax season may not be as strong moving forward with the growing use of online software by income tax filers.
Here are some key facts about Financial auditors and accountants in the Newfoundland and Labrador region:
- Approximately 2,000 people work in this occupation.
- Financial auditors and accountants mainly work in the following sectors:
- Accounting, tax preparation, bookkeeping and payroll services (NAICS 5412): 34%
- Federal government public administration (NAICS 911): 12%
- Provincial and territorial public administration (NAICS 912): 6%
- The distribution of full-time and part-time workers in this occupation is:
- Full-time workers: 93% compared to 84% for all occupations
- Part-time workers: 7% compared to 16% for all occupations
- 78% of financial auditors and accountants work all year, while 22% work only part of the year, compared to 56% and 44% respectively among all occupations. Those who worked only part of the year did so for an average of 35 weeks compared to 26 weeks for all occupations.
- 9% of financial auditors and accountants are self-employed compared to an average of 6% for all occupations.
Breakdown by region
Explore job prospects in Newfoundland and Labrador by economic region.
|Avalon Peninsula Region||Good Good|
|Notre Dame-Central-Bonavista Bay Region||Good Good|
|South Coast–Burin Peninsula Region||Good Good|
|West Coast–Northern Peninsula–Labrador Region||Good Good|
You can also look at this data on a map. Go to LMI Explore
Job prospects elsewhere in Canada
We expect that the labour supply and demand for Financial auditors and accountants (NOC 1111) will be balanced in Canada over the next 10 years.
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