Wave of Public Finance Retirements to Worsen Worker Shortage
- Online job postings up 84% from 2016 to 2020 in public finance
- Smaller workforce to manage record billions in federal aid
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Record amounts of federal aid set to flow through state and local coffers will add to the workload of public accountants and investment officers, pressure that could build further as a potential surge of retirements exacerbates a worker shortage.
The demand for public finance employees based on online job postings surged 84% between 2016 and 2020, even after a slight year-over-year dip last year due to the pandemic, according to a study released Tuesday by the National Association of State Treasurers Foundation.