NC tech job openings remain near record high – but is a dip coming?

RALEIGH – Jobs in North Carolina’s information technology sector remain near the record high set in January, but whether the Feburary data indicate a continuing robust demand for talent isn’t clear.

So says the CEO at the NC Technology Association after reviewing the latest IT Job Trends report the business group publishes.

“IT job openings in February nearly matched January’s high mark, following the typical pattern of a boost in openings early in the new year,” said Brooks Raiford. “We are watching closely to see whether hiring dips after this quarter, or remains high due to ongoing demand.”

Open positions fell by 150 to 47,778 from the January record, but the monthly totals have stayed abouve 44,000 since last summer.

‘Ominous news’ for jobs? Openings across Triangle drop, data shows

Raiford’s comments are similare to those made to WRAL TechWire by N.C. State economist Dr. Michael Walden when asked about a drop in open jobs across the economy as reflected by national job boards as reported in TW’s exclusive weekly jobs report.

“[T]here could still be some ominous news in the latest numbers from the private companies,” Walden said.

“Are companies now backing off of some hiring plans due to the uncertainty related to Ukraine? Also, even without the Ukraine impact, the Fed is now beginning a series of interest rate hikes, that could end up with rates several percentage points higher at year’s end . Such a ‘tightening’ policy will make borrowing for expansionary projects more expensive. It also raises the possibility of a recession sometime this year.”

“Bottom line: Business executives, even in fast growing regions such as the Triangle, may be pausing to access how the economy could be changing,” Walden added.

Still, the Feburary openings were 45% higher than a year ago as economies continued to rally from COVID’s deep impact.

The state’s metro areas – with the exception of Burlington – all had more jobs available, according to the NC TECH report:

Locations Feb ‘22 Feb ‘21