6Oct
We find the Charlotte market continues to be in the recovery phase and over the last two months and we have seen positive signs for the future. The Charlotte unemployment rate is currently about 9.3% compared to the US average of about 10.5%. However, according to The U.S. Bureau of Labor Statistics, unemployment for Accountants and Finance professionals in the Charlotte region is about 1.5%.
During the height of the pandemic we still saw companies hire but it was at a lower rate and for more of the “doer” type roles (Staff Accountant, Senior Accountant, Accounting Manager, Payroll). Within the last month or so we have seen a higher level of “strategic thinkers” (Controller, CFO, VP of Finance) positions enter the market. This has been encouraging and we still believe there is a lot of built up demand in the marketplace for these higher level positions.
In a typical year, (and we all know this is NOT a typical year) the busiest time to make a job change is between mid-September and November just before Thanksgiving. This is a result of a number of factors:
- Year-end is approaching and companies want to get their teams set.
- The budget year is ending soon and companies want to use what has been allocated.
- Summer vacations are over and schools are back in session which focuses business teams on advancing their strategic initiatives.
- Candidates who want to make a change are looking to do so before year end responsibilities commence.
The election is causing additional uncertainty and we anticipate more job activity to commence once the country has clarity around the leadership direction. Overall, we remain positive and optimistic for what is to come in the Charlotte market.