Job prospects Accountant in Newfoundland and Labrador

Job opportunities for Financial auditors and accountants (NOC 1111) are fair in Newfoundland and Labrador over the next 3 years. These job prospects are also applicable to people working as an accountant.

Note that these employment prospects were published in December 2019 based on information available at that time. You can read our new special report to learn about the impact of COVID-19 on some occupations in your province or territory. You can also visit the Canadian Online Job Posting Dashboard to find the latest data on the demand and work requirements for this occupation.

Job opportunities in Newfoundland and Labrador

accountant
Prospects over the next 3 years
Fair

The employment outlook will be fair for Financial auditors and accountants (NOC 1111) in Newfoundland and Labrador for the 2019-2021 period.

The following factors contributed to this outlook:

  • Employment is expected to remain relatively stable.
  • 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.

    Legend: The job opportunities can be: Undetermined Limited Fair Good

    Source Labour Market Information | Prospects Methodology

    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.

    Learn more

Labour Market Information Survey
Date modified: