The economy isn’t great nationally and it certainly isn’t great in New Jersey, according to a recent survey of certified public accountants in New Jersey, Pennsylvania, and New York by the Center for Opinion Research of Franklin and Marshall College.
One indication of this is that 64 percent of New Jersey CPAs surveyed said employees in their companies are postponing their retirement. (The same number of New York CPAs agreed with that statement, while only 56 percent of those in Pennsylvania said this was the case.)
New Jersey and New Yorkers are also on the same wavelength when it comes to predicting next year’s economic outlook: 50 percent expected state conditions to be about the same and 30 percent said they would be better. Most (61 percent) agreed the economy was “only fair” this year, with 27 percent saying it was “good.” Pennsylvania CPAs were more positive about the current economy, with 33 percent saying it was good and 59 percent saying it was only fair.
Nevertheless, New Jersey accountants are slightly more positive about the economy than they were last year. This year, 48 percent expected revenues to increase in 2014, as opposed to 44 percent last year. And 23 percent said they expected to increase the workforce next year.
The survey polled 673 CPAs through the New Jersey Society of Certified Public Accountants.