February 28, 2014
Marcum LLP Featured in Boston Business Journal Article, "Massachusetts Accounting Sector's Strength Hinges, in Part, on Broader Economy's Prolonged Weakness."
Job security is always relative, depending on the industry and the state of the economy. Although few sectors have seen anything close to stability during the years-long malaise that's persisted over much of the labor market since the recession officially ended in 2009.
Except for the accounting industry.
It could be said that no sector has benefited more than the accounting business when it comes to the economic uncertainty and steady stream of rule changes and regulations that have flowed from Washington, D.C., and state capitals since the downturn struck. It's been a head-spinning timeline of events affecting everything from health care to taxes to retirement planning to capital expenses. And at the center of it all are the men and women of the accounting industry.
The steady demand for services is reflected in this year's BBJ list of the largest accounting firms in Massachusetts. As of Jan. 1, the state's top 25 firms employed 9,472 people, a 6 percent increase over the 8,962 workers on record at the 25-largest accounting firms roughly a year earlier.
The sector's vibrance also is reflected in the amount of dealmaking that's closed among competing firms over the past 12 months. Marcum jumped to No. 8 on this year's BBJ list, up from No. 12 in 2013, on the heels of its recent merger with Braver PC.