Director - Minchin Recruitment
In 2023, the Australian Bureau of Statistics reported a detailed breakdown of payroll jobs by state and territory. Notably, Tasmania saw the largest increase in payroll jobs, up 1.1%, followed by Victoria, South Australia, and Western Australia, each up 0.6%. Overall, Australia experienced a 0.5% monthly increase in payroll jobs as of December 2023. This data indicates regional variations in employment trends within the payroll sector, reflecting broader economic shifts and the uneven impact of external factors such as policy changes and market demand.
The gender and age distribution within the sector also reveals notable trends. Jobs worked by females saw an increase of 0.5%, while those by persons aged 15-19 surged by 2.3%. On the other end of the spectrum, roles occupied by individuals aged 70 and over witnessed a remarkable 8.2% rise, suggesting a diversifying workforce that spans a wide range of age groups.
Industry-wise, significant growth was observed in retail trade (up 1.9%), transport, postal and warehousing (up 1.0%), and arts and recreation services (up 0.9%), highlighting the sectors driving demand for payroll professionals. This diversification underscores the payroll profession’s critical role across various industries, not limited to traditional finance or accounting sectors.
Looking at the broader accounting and financial services sector, which closely aligns with payroll, the landscape in Australia is robust, with over 117,236 chartered accountants recorded in Australia and New Zealand in 2020. Interestingly, 57% of certified accountants were male, indicating a gender disparity within the profession. Additionally, there were 34,396 businesses offering accounting services in Australia as of 2021, employing approximately 148,614 individuals. This data points to a substantial and dynamic accounting and payroll industry, with significant employment opportunities and professional growth potential.
The demand for accountants and, by extension, payroll professionals remains high, with 83% of companies looking to increase their recruitment activity in 2024. This surge in demand has led to challenges in finding and retaining quality staff, prompting 57% of employers to plan salary increases of up to 3% in an effort to attract and keep candidates.
The payroll profession in Australia is characterized by its dynamic and evolving nature, reflecting broader economic trends and the changing work landscape. Despite challenges such as gender disparities and recruitment difficulties, the profession offers ample opportunities for growth and development, underpinned by strong demand across a variety of industries.
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