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created at

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https://hconnectint.com/resources/blogs/the-u-s-accountant-shortage-is-recruiting-globally-the-solution/

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Content

title

The U.S. Accountant Shortage: Is Recruiting Globally the Solution?

excerpt

content

The U.S. is facing a significant accountant shortage, a decline that has reached a critical point, sparking concerns about the future of financial services and economic stability. Here are some eye-opening statistics from the U.S market: The Wall Street Journal reported that more than 300,000 U.S. accountants and auditors have left their jobs, marking a 17% decline. There are 340,000 fewer accountants now than in 2019, leaving a total of 1.6 million in the U.S., according to a 2024 Bloomberg analysis of Bureau of Labor Statistics data. AICPA 2021 “Trends Report” reported a 33% drop in first-time CPA exam candidates between 2016 and 2021. According to the AICPA, approximately 75% of existing accountants are nearing retirement age. This drastic decline in the number of accountants in the U.S. can be attributed to several key factors: Mass resignations: A significant number of accountants between the ages of 25 and 34 and mid-career professionals in the 45-to-54 r...

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