Older Workers Make Up Growing Share of Accounting Workforce
Accounting and bookkeeping professionals are working beyond traditional retirement age at rates well above the national workforce average, according to a new study examining employment trends across the country.
According to Accounting Today, the study from Sam’s List found that 13.5% of bookkeeping, accounting and auditing clerks are age 65 or older, representing approximately 169,000 workers. By comparison, workers in that age group account for 7% of all U.S. occupations. Among accountants and auditors, 8.4%, or approximately 148,000 people, are at least 65 years old. Combined, the two groups include about 317,000 workers age 65 and older.
The trend varies considerably by location. In the San Francisco metro area, 24.4% of bookkeeping and accounting clerks are 65 or older, the highest share among the metropolitan areas studied. Tampa followed at 21.3%, while San Diego and Greater Boston reported shares of 20.7% and 19.2%, respectively. The New York metro area ranked fifth at 17.6%.
“The national number tells you bookkeeping skews older,” said Kimberly Green, co-founder of Sam’s List. “The metro numbers tell you it’s not the same story everywhere.”
The findings add another dimension to ongoing discussions about the accounting profession’s workforce pipeline, showing that older professionals continue to represent a substantial portion of the field even as firms and professional organizations work to attract younger workers.