Finance Managers
Overview
Snapshot
Summary
Finance Managers plan, organise, direct, control and coordinate the financial and accounting activities within organisations.
Also known as: Chief Financial Officer, Finance Director, or Financial Controller.
Specialisations: Financial Administrator.
A university degree in business, commerce or accounting is usually needed to work as a Finance Manager.
Tasks
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determining, implementing, monitoring, reviewing and evaluating budgetary and accounting strategies, policies and plans in consultation with other Managers
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providing financial information and interpreting the implications for business performance and funding needs
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coordinating the development, implementation and monitoring of accounting systems
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directing the preparation of financial reports summarising and forecasting the organisation's financial position such as income statements, balance sheets and analyses of future earnings and income
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assessing capital finance proposals and the financial status of operational projects
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advising on investment strategies, sources of funds and the distribution of earnings
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delivering long range profit forecasts, budgeting and financial reporting
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ensuring compliance with financial legislation and standards
Characteristics
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University
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Administrative
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Enterprising
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Sedentary
Outlook
JSA produces employment projections to show where likely future job opportunities may be. The latest data are for the five years from November 2021 to November 2026. Over this period, the number of workers:
- is expected to grow strongly
- is likely to reach 81,500 by 2026.
Source: Jobs and Skills Australia Employment Projections to 2026.
Notes: The number employed includes people who work in this occupation as their main job. People who work in more than one job are counted against the occupation they work the most hours in.
Employment projections figures are rounded to the nearest 100. Calculations based on these rounded figures may result in differences to the numbers that are displayed on this page. Employment projections data (including occupations) can be downloaded from the Employment Projections page.
Number of Workers
Year | Employment |
---|---|
2011 | 56,200 |
2012 | 44,400 |
2013 | 46,000 |
2014 | 49,600 |
2015 | 65,200 |
2016 | 54,200 |
2017 | 57,400 |
2018 | 55,000 |
2019 | 61,600 |
2020 | 65,200 |
2021 | 73,000 |
2026 | 81,500 |
Source: ABS Labour Force Survey, ABS seasonally adjusted data to November 2021 and Jobs and Skills Australia Employment Projections to 2026.
Earnings and hours
Working arrangements
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Around 86% of people employed as Finance Managers work full-time hours, in all their jobs combined. This is 20 percentage points above the all jobs average (66%).
Full-time workers work an average of 46 hours per week in their main job. This is similar to the all jobs average (44 hours per week).
More than half of workers regularly work overtime or extra hours (either paid or unpaid).
Median full-time earnings are $3,225 per week, this is much higher than the all jobs median ($1,593):
- 3 in 4 workers earn more than $2,365
- 1 in 4 earn more than $4,234
Median hourly earnings are $87, this is much more than the all jobs median ($41 per hour).
Sources: Full-time share and full-time hours: ABS, 2016 Census, customised report. Compared to the all jobs average. Overtime hours: ABS, Characteristics of Employment, 2021. Full-time median earnings and median hourly earnings: ABS, Survey of Employee Earnings and Hours, May 2021. Compared to all jobs median.
Weekly Earnings (Before Tax)
Earnings | Finance Managers | All Jobs Average |
---|---|---|
Full-Time Earnings | 3,225 | 1,593 |
Total Earnings | 0 | 0 |
Source: Based on ABS Survey of Employee Earnings and Hours, May 2021, Customised Report. Median weekly total cash earnings for full-time non-managerial employees paid at the adult rate. Earnings are before tax and include amounts salary sacrificed. Earnings can vary greatly depending on the skills and experience of the worker and the demands of the role. These figures should be used as a guide only, not to determine a wage rate.
Industries
Main industries
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Finance Managers work in industries like:
- Financial and insurance services
- Professional, scientific and technical services
- Public administration and safety
- Construction.
Source: ABS Labour Force Survey, annual average 2021.
Regions
Employment across Australia
NSW
VIC
QLD
SA
WA
TAS
NT
ACT
Employment by State and Territory (% Share)
State | Finance Managers | All Jobs Average |
---|---|---|
NSW | 39.0 | 31.6 |
VIC | 26.8 | 25.6 |
QLD | 14.7 | 20.0 |
SA | 5.5 | 7.0 |
WA | 9.2 | 10.8 |
TAS | 1.2 | 2.0 |
NT | 0.8 | 1.0 |
ACT | 2.8 | 1.9 |
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Around 80% of Finance Managers live in capital cities, compared with the all jobs average of 62%.
New South Wales has a large share of employment relative to its population size.
The regions with the largest share of workers are:
- Sydney - North Sydney and Hornsby
- Melbourne - Inner
- Melbourne - Inner South
- Melbourne - Inner East
- Sydney - Eastern Suburbs.
Source: Based on ABS Census 2016, Customised Report. Share of workers across Australian states, territories and regions, in this job compared to the all jobs average.
Worker profile
Age and gender
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The median age of Finance Managers is 45 years. This is higher than the all jobs average of 40 years.
A large share of workers are aged 35 to 44 years.
Females make up 46% of the workforce. This is similar to the all jobs average of 48%.
Source: Based on ABS Census 2016, Customised Report. Age profile and gender share compared to the all jobs average.
Age Profile (% Share)
Age Bracket | Finance Managers | All Jobs Average |
---|---|---|
15-19 | 0.0 | 5.0 |
20-24 | 0.6 | 9.3 |
25-34 | 15.5 | 22.9 |
35-44 | 33.9 | 22.0 |
45-54 | 30.9 | 21.6 |
55-59 | 9.9 | 9.0 |
60-64 | 5.5 | 6.0 |
65 and Over | 3.7 | 4.2 |
Median Age | 45 | 40 |
Source: Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.
Employment Pathways
Education, training and experience
A university degree in business, commerce or accounting is usually needed to work as a Finance Manager.
Visit
- Course Seeker to search and compare higher education courses.
- ComparED to compare undergraduate and postgraduate student experiences and outcomes.
- My Skills to compare Vocational Education and Training (VET) courses, providers and student outcomes.
- AAPathways website to explore Financial Services VET training pathways.
Highest Level of Education (% Share)
Type of Qualification | Finance Managers | All Jobs Average |
---|---|---|
Post Graduate/Graduate Diploma or Graduate Certificate | 23.5 | 10.1 |
Bachelor degree | 48.5 | 21.8 |
Advanced Diploma/Diploma | 10.9 | 11.6 |
Certificate III/IV | 4.1 | 21.1 |
Year 12 | 8.3 | 18.1 |
Year 11 | 1.7 | 4.8 |
Year 10 and below | 2.8 | 12.5 |
Source: ABS Census 2016, Customised Report. Highest qualification completed by workers in this job (in any field of study). Qualifications needed by new workers might be different from the qualifications of workers already in the job.
Skills and Knowledge
Employers look for Finance Managers who can communicate clearly, have strong interpersonal skills and pay attention to detail.
Skills
Skills can be improved through training or experience.
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75%
Management of financial resourcesFiguring out how money is needed to do something, and keeping track of the money that's being spent.
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64%
Critical thinkingThinking about the pros and cons of different ways to solve a problem.
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64%
Judgment and decision makingFiguring out the pros and cons of different options and choosing the best one.
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63%
Systems analysisFiguring out how a system should work and how changes in conditions, operations, and the environment will affect it.
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61%
Active learningBeing able to use what you have learnt to solve problems now and again in the future.
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61%
Active listeningListening to others, not interrupting, and asking good questions.
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61%
Reading comprehensionReading work related information.
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61%
MonitoringKeeping track of how well work is progressing so you can make changes or improvements.
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59%
Complex problem solvingNoticing a problem and figuring out the best way to solve it.
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59%
MathematicsUsing maths to solve problems.
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59%
SpeakingTalking to others.
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59%
Systems evaluationMeasuring how well a system is working and how to improve it.
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57%
Time managementManaging your own and other peoples' time to get work done.
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57%
WritingWriting things for co-workers or customers.
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54%
Coordination with othersBeing adaptable and coordinating work with other people.
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54%
Management of personnel resourcesMotivating, developing, and directing people as they work, and choosing the best people for the job.
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54%
PersuasionTalking people into changing their minds or their behaviour.
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52%
Social perceptivenessUnderstanding why people react the way they do.
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48%
Learning strategiesFiguring out the best way to teach or learn something new.
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46%
NegotiationBringing people together and trying to sort out their differences.
Knowledge
These are important topics, subjects or knowledge areas.
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89%
Economics and accountingEconomics and accounting, the financial markets, banking and checking and reporting of financial data.
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85%
Administration and managementBusiness principles involved in strategic planning, leadership, and coordinating people and resources.
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73%
MathematicsArithmetic, algebra, geometry, calculus, or statistics.
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63%
Personnel and human resourcesRecruiting and training people, managing pay and other entitlements (like sick leave), and negotiating pay and conditions.
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61%
English languageEnglish language including the meaning and spelling of words, rules of composition, and grammar.
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60%
Computers and electronicsCircuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
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54%
Law and governmentHow our laws and courts work. Government rules and regulations, and the political system.
-
51%
Customer and personal serviceUnderstanding customer needs, providing good quality service, and measuring customer satisfaction.
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48%
ClericalWord processing, managing files and records, stenography and transcription, designing forms, and other office work.
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48%
Education and trainingCurriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
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41%
PsychologyHuman behaviour; differences in ability, personality, and interests; learning and motivation; research methods; assessing and treating disorders.
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34%
Production and processingRaw materials, production processes, quality control, costs, and ways of making and distributing goods.
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31%
Communications and mediaMedia production, communication, and dissemination. Includes written, spoken, and visual media.
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28%
Sales and marketingShowing, promoting, and selling including marketing strategy, product demonstration, sales techniques, and sales control systems.
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28%
Sociology and anthropologyGroup behaviour and dynamics, societal trends and influences, human migrations, ethnicity, cultures and their history and origins.
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27%
Public safety and securityUse of equipment, rules and ideas to protect people, data, property, and institutions.
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21%
TelecommunicationsTransmission, broadcasting, switching, control, and operation of telecommunications systems.
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19%
TransportationMoving people or goods by air, rail, sea, or road.
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18%
Therapy and counsellingDiagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and career counselling and guidance.
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13%
Medicine and dentistryDiagnose and treat human injuries, diseases, and deformities, including preventive health-care measures.
Abilities
Workers use these physical and mental abilities..
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68%
Problem spottingNotice when something is wrong or is likely to go wrong, even if you can't solve the problem.
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66%
Oral expressionCommunicate by speaking.
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64%
Deductive reasoningUse general rules to find answers or solve problems logically.
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63%
Working with numbersAdd, subtract, multiply, or divide.
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63%
Written comprehensionRead and understand written information.
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61%
MathematicsChoose the right maths method or formula to solve a problem.
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61%
Near visionSee details that are up-close (within a few feet).
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61%
Oral comprehensionListen to and understand what people say.
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59%
Inductive reasoningUse lots of detailed information to come up with answers or make general rules.
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59%
Written expressionWrite in a way that people can understand.
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55%
Sorting or orderingOrder or arrange things in a pattern or sequence (e.g., numbers, letters, words, pictures, mathematical operations).
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54%
Speech claritySpeak clearly so others can understand you.
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54%
Speech recognitionIdentify and understand the speech of another person.
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52%
CategorisingCome up with different ways of grouping things.
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52%
BrainstormingCome up with a number of ideas about a topic, even if the ideas aren't very good.
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48%
OriginalityCome up with unusual or clever ideas, or creative ways to solve a problem.
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45%
Flexibility of closureSee a pattern (a figure, object, word, or sound) hidden in other distracting material.
-
45%
Speed of recognitionQuickly make sense of and organize things you can see like letters, numbers, pictures, or other things.
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43%
Far visionSee details that are far away.
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43%
Perceptual speedUse your eyes to quickly compare groups of letters, numbers, pictures, or other things.
Activities
These are kinds of activities workers regularly do in this job.
-
87%
Making decisions and solving problemsUsing information to work out the best solution and solve problems.
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82%
Managing payments and ordersMonitoring and controlling resources and the spending of money.
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80%
Making sense of information and ideasLooking at, working with, and understanding data or information.
-
79%
Planning and prioritising workDeciding on goals and putting together a detailed plan to get the work done.
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78%
Communicating within a teamGiving information to co-workers by telephone, in writing, or in person.
-
78%
Giving expert adviceProviding guidance and expert advice to management or other groups.
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78%
Building good relationshipsBuilding good working relationships and keeping them over time.
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78%
Guiding and directing staffGuiding and directing staff, including setting and monitoring performance standards.
-
77%
Collecting and organising informationCompiling, coding, categorizing, calculating, tabulating, auditing, or checking information or data.
-
76%
Coming up with systems and processesDeciding on goals and figuring out what you need to do to achieve them.
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76%
Keeping your knowledge up-to-dateKeeping up-to-date with technology and new ideas.
-
75%
Researching and investigatingLooking for, getting and understanding different kinds of information.
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71%
Communicating with the publicGiving information to the public, business or government by telephone, in writing, or in person.
-
70%
Coaching and developing othersWorking out the needs of others and coaching, mentoring, or helping them to improve.
-
68%
Checking compliance with standardsDeciding whether events or processes comply with laws, regulations, or standards.
-
66%
Leading and encouraging a teamEncouraging and building trust, respect, and cooperation among team members.
-
66%
Looking for changes over timeComparing objects, actions, or events. Looking for differences between them or changes over time.
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65%
Thinking creativelyUsing your own ideas for developing, designing, or creating something new.
-
61%
Explaining things to peopleHelping people to understand and use information.
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58%
Working with computersUsing computers to program, write software, set up functions, enter data, or process information.
Interests and demands
Learn about the daily activities, and physical and social demands faced by workers. Explore the values and work styles that workers rate as most important.
Interests
Interests are the style or type of work we prefer to do. All interest areas are shown below.
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100%
AdministrativeFollowing set procedures and routines. Working with numbers and details more than with ideas, usually following rules.
-
86%
EnterprisingStarting up and carrying out projects. Leading people and making many decisions. Sometimes require risk taking and often deal with business.
-
38%
AnalyticalIdeas and thinking. Searching for facts and figuring out problems in your head.
-
38%
HelpingWorking with people. Helping or providing service to others.
-
24%
PracticalPractical, hands-on work. Often with plants and animals, or materials like wood, tools, and machinery.
-
14%
CreativeWorking with forms, designs and patterns. Often need self-expression and can be done without following rules.
Values
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83%
Working conditionsJob security and good working conditions. There is usually a steady flow of interesting work, and the pay and conditions are generally good.
-
81%
AchievementResults oriented. Workers are able to use their strongest abilities, giving them a feeling of accomplishment.
-
81%
IndependenceWork alone and make decisions. Workers are able to try out their own ideas, make decisions on their own, and work with little or no supervision.
-
76%
SupportSupportive management that stands behind employees. Workers are treated fairly by their company, they are supported by management, and have supervisors who train them well.
-
71%
RecognitionAdvancement and the potential to lead. Workers are recognised for the work that they do, they may give directions and instructions to others, and they are looked up to in their company and their community.
-
57%
RelationshipsServe and work with others. Workers usually get along well with each other, do things to help other people, and are rarely pressured to do things that go against their sense of right and wrong.
Demands
-
100%
Indoors, heat controlledWork indoors with access to heating or cooling.
-
99%
Electronic mailUse electronic mail.
-
99%
TelephoneTalk on the telephone.
-
99%
Face-to-face discussionsTalk with people face-to-face.
-
93%
Spend time sittingSpend time sitting at work.
-
91%
Being exact or accurateBe very exact or highly accurate.
-
89%
Freedom to make decisionsHave freedom to make decision on your own.
-
88%
Unstructured workHave freedom to decide on tasks, priorities, and goals.
-
87%
TeamworkWork with people in a group or team.
-
85%
Contact with peopleHave contact with people by telephone, face-to-face, or any other way.
-
85%
Impact of decisionsMake decisions that have a large impact on other people.
-
83%
Frequent decision makingFrequently make decisions that impact other people.
-
83%
Letters and memosWrite letters and memos.
-
83%
Time pressureWork to strict deadlines.
-
83%
Responsible for outcomesTake responsibility for the results of other people's work.
-
79%
Lead or coordinate a teamLead others to do work activities.
-
75%
CompetitionCompete with others, or be aware of competitive pressures.
-
67%
Repeating same tasksRepeat the same tasks or activities (e.g., key entry) over and over, without stopping.
-
63%
Contact with the publicWork with customers or the public.
-
61%
Conflict situationsDeal with conflict or disagreements.
O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
The skills and importance ratings on this page are derived from the US Department of Labor O*NET Database Version 21.2, 11-3031.01 - Treasurers and Controllers.
Links and downloads
Research and reports
The Skills Priority List provides a current labour market rating and a future demand rating for nearly 800 occupations nationally. Current labour market ratings are available for occupations at a state and territory level.
Downloads
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Occupation profiles data are available for download.
The Employment Projections are available for download.