Job prospects Accountant in Newfoundland and Labrador

National Occupational Classification update

We have updated this page to reflect the transition to the 2021 version of the National Occupational Classification (NOC). This means that the occupation "accountant" was moved from the group Financial auditors and accountants (NOC 1111) to the group Financial auditors and accountants (NOC 11100).

Explore current and future job prospects for people working as an "accountant" in Newfoundland and Labrador or Canada.

Job opportunities in Newfoundland and Labrador

Note that these outlooks are based on the 2016 version of the NOC. Learn more about our methodology.

accountant
Prospects over the next 3 years
Moderate

The employment outlook will be moderate for Financial auditors and accountants (NOC 1111) in Newfoundland and Labrador for the 2022-2024 period.

The following factors contributed to this outlook:

  • Employment growth will lead to a few new positions.
  • Several positions will become available due to retirements.
  • There are a moderate 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 Newfoundland and Labrador:

  • Approximately 1,700 people work in this occupation.
  • Financial auditors and accountants mainly work in the following sectors:
    • Accounting, tax preparation, bookkeeping and payroll services (NAICS 5412): 25%
    • Federal government public administration (NAICS 911): 12%
    • Provincial and territorial public administration (NAICS 912): 6%
    • Utilities (NAICS 22): 5%
  • 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.
  • The gender distribution of people in this occupation is:
    • Men: 42% compared to 52% for all occupations
    • Women: 57% compared to 48% for all occupations
  • The educational attainment of workers in this occupation is:
    • no high school diploma: less than 5% compared to 14% for all occupations
    • high school diploma or equivalent: 7% compared to 25% for all occupations
    • apprenticeship or trades certificate or diploma: less than 5% compared to 13% for all occupations
    • college certificate or diploma or university certificate below bachelor's: 32% compared to 30% for all occupations
    • bachelor's degree: 45% compared to 12% for all occupations
    • university certificate, degree or diploma above bachelor level: 14% compared to 6% for all occupations

Breakdown by region

Explore job prospects in Newfoundland and Labrador by economic region.

Legend

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Source Labour Market Information | Prospects Methodology

Labour Market Information Survey
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