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Report: Tech workers still in high demand in NC, even as labor market overall expected to slow


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RALEIGH – Technology workers are still in high demand in North Carolina, with more than 57,000 openings in the state according to the latest IT Job Trends report from the North Carolina Technology Association, NC TECH.

In fact, the report tracks a 60% increase in job openings in May 2022 compared to May 2021, with a total of 57,182 job openings for tech roles across the state last month.

April 2022 was the first month on record where job openings in technology surpassed the 50,000 mark, and the numbers for May 2022 show a net increase of just under 4,000 roles opening in May.

That’s in contrast to national job market trends, however, as tracked in a recent WRAL TechWire Jobs Reports, including Monday’s.

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And with another recent interest rate hike from the Federal Reserve, an economic slowdown may be coming, and with it, slowing job growth, Dr. Michael Walden, an economist and a William Neal Reynolds Distinguished Professor and Extension Economist at North Carolina State University, told WRAL TechWire.

“The Triangle – including tech – will feel the impacts of a slowdown, just has it has in previous economic tightenings by the Fed,” said Walden.  “Tech may even experience a greater adverse impact due to the fact the sector has ‘boomed’ so much during the pandemic and afterward.”

Job seekers beware: Interest rate hikes to hit labor market, economist warns

Booming still

As of May 2022, however, technical talent was still in high demand in North Carolina.  In all metropolitan statistical areas (MSAs) tracked in the NC TECH IT Job Trends report, the number of job openings had increased by at least 15% year-over-year.

In Raleigh’s MSA, there were 19,419 open roles in May 2022, an increase of 83% year-over-year in the number of open tech jobs available.  In the Charlotte MSA, there were 19,272 open tech jobs, an increase of 59%. In the Durham-Chapel Hill MSA, there were 4,914, an increase of 22% year-over-year.

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Image: NC TECH. Data pulled from NC IT Job Trends Report produced by North Carolina Technology Association.

“The Research Triangle area continues to dominate the IT openings for the state.  Although listed by Metropolitan Statistical Area, the figures for Raleigh combined with the Durham / Chapel Hill area total close to 25,000 open positions,” said Andrea Fleming, Director of Talent + Workforce Development for NC TECH, in a statement.  “Local and national news highlight stories of a slowing economy and declining opportunities, but that is not the case for tech in North Carolina. Tech openings continue their upward climb.”

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In each of Winston-Salem and Greenville, tech job openings increased by more than 100%, with an increase of 117% in the Winston-Salem MSA and an increase of 112% in the Greenville MSA.

Tech talent demand remains strong in Triangle – here’s which companies are hiring

 

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