RESEARCH TRIANGLE PARK — The Triangle’s startup job market shows fewer postings this week, according to the latest edition of the WRAL TechWire Jobs Report.
Startup job postings decreased 7.8% this week, falling to 12,291 postings (not accounting for duplications in postings).
The startup job postings have declined alongside the wider Triangle job market, which has also shown several significant drops this year.
Here’s a look at the trends in the startup job market for the last nine months:
But could good news be on the horizon?
Will layoffs fuel startup activity?
Tech has been plagued by layoff announcements this year, including recent announcements from companies with a strong Triangle presence like Red Hat, SAS, and more, but recent data shows that these layoffs could actually increase startup activity.
According to a survey by Clarify Capital LLC, tech layoffs could trigger a boom for startups. Their poll of 1,000 laid-off tech workers showed that 63% of respondents started their own company after their layoff. And new data from the North Carolina Secretary of State office shows the number of new businesses being launched remains at new-record levels.
Tom Snyder, executive director of the Raleigh-headquartered Internet of Things (IoT) economic development nonprofit RIoT, told me that a layoff can be a strong "runway" for a new founder.
"A professional who gets laid off and gets this runway is actually a really great person for starting a business," Snyder told me. "It creates a big opportunity, and when you look at the cycles of huge layoffs and recessions through history, you see a lot of the origin stories of big companies, from those professionals who have a network, who understand the industry and how business works, who have the experience to get started, and suddenly they have that activation energy to make a change and do something different, that's solved for them when they get laid off."
According to the Clarify Capital survey, 40% got the idea to start a company between six and 12 months after getting laid off.
"When you're suddenly out of a job, that thing you've always wanted to do is a whole lot closer," said Snyder.
RIoT supports new and scaling startups through its startup accelerator program; learn more at riot.org. (Snyder also mentioned that RIoT is currently hiring. Email him at firstname.lastname@example.org for more information.)
Startup jobs this week
For more on startup jobs—here are the numbers from 15 different local or regional job board sites we review weekly for WRAL TechWire’s exclusive Jobs Report for “startup” jobs.
Editor's note: WRAL contributor Sarah Glova is also the step-daughter of RIoT's Tom Snyder.