There’s ‘lot To Like’ About Triangle Jobs Market, Economist Says

Republished By Plato

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RALEIGH – Technology companies are making headlines for initiating layoffs or formally announcing hiring freezes. But that’s just one small part of the overall labor market in the Triangle and in the U.S. economy, according to Christian Lundblad, a finance professor at the University of North Carolina at Chapel Hill Kenan-Flagler Business School.

“We are seeing some movement in the tech sector,” said Lundblad in an interview with WRAL TechWire. “Some is a bit idiosyncratic, like Twitter, and some is worthy of closer examination to discern whether important trends are developing.”

Still, Lundblad notes that labor market growth continues to “hum along, particularly in the service sector.”

Despite the Federal Reserve continuing to raise the federal funds target rate, the employment situation in the United States still indicates a strong labor market.

But there are “legitimate headwinds looming,” said Lundblad, despite evidence that “we aren’t seeing much of a slowdown yet.”

And even in a national slowdown, the Triangle may be more resilient, should an economic downturn occur or should there be a turn in the labor market.

In the Triangle, said Lundblad, “not much has turned yet.”

“There is a lot to like about the Triangle’s medium run trajectory,” added Lundblad.

Layoff Watch: Tech firms have cut more than 100,000 jobs – and more are coming

So where are the jobs in the Triangle?

Amazon: 16 job openings in the Triangle, though some roles can be done remotely, according to the company’s career page. That’s down from 59 openings a week ago, with the company announcing last week that it would pause hiring new corporate roles until 2023. In addition, Amazon is closing multiple North Carolina facilities, though a company spokesperson told WRAL TechWire that Amazon was not laying off any workers as those facilities close. Workers at an Amazon facility in Garner continue efforts to unionize including speaking with other Amazon workers in the state.
Apple (corporate roles): 38 job openings in the Triangle, according to the company’s career page, down 23 roles from a month ago. The company will put in place a hiring freeze for corporate roles, WRAL TechWire reported last week.
Bandwidth: 30 job openings in Raleigh, according to the company’s career page. The company will require its employees to work in-person five days per week, WRAL TechWire reported earlier this year.
BASF: 34 job openings in the Triangle, according to the company’s career page
BlueCross BlueShield of North Carolina: 41 job openings in the Triangle, according to the company’s career page
BD: 16 job openings in the Triangle, according to the company’s career page
Cisco: 185 job openings in Research Triangle Park, according to the company’s career page
Citrix: Citrix is updating their job portal website, according to the company. No data was available for this week, but there were 23 job openings in Raleigh last week, according to the company’s career page.
Credit Suisse: 51 job openings in the Triangle, according to the company’s career page. Stock prices plunged in early October and the company is required to pay a big $234 million fine. The company has 10 fewer job openings than a month ago.

Amazon will ‘pause’ on new hires for corporate roles

More jobs in the Triangle

Duke Energy: 11 job openings in the Triangle, according to the company’s career page, the same as last week.
Eaton: 81 job openings in Raleigh, according to the company’s career page. Earlier this year, the company announced plans to hire about 170 workers who will be based in the company’s revamped Raleigh office.
Eli Lilly: 41 job openings in Research Triangle Park, according to the company’s career page
Fidelity Investments: 659 job openings in Durham, according to the company’s career page. That’s up from 562 a week ago and is 78 openings higher than a month ago.
FUJIFILM Diosynth Biotechnologies: 41 job openings in the Triangle, according to the company’s career page, down 17 job postings from a month ago
Google: 313 job openings in Durham, according to the company’s career page, up from 260 a week ago. The company is making cuts in some areas of the company but is expected to continue to hire for the Durham engineering hub, WRAL TechWire reported earlier this year. The company is hiring for 99 more positions than it was a month ago.
Grifols: 123 job openings in North Carolina, including in Durham and Clayton, according to the company’s career page, up from 93 open roles last week and five fewer than a month ago
GlaxoSmithKline: 96 job openings in Durham, according to the company’s career page, down from 119 last week and down 22 openings from a month ago.
IBM: 7 job opening in RTP, according to the company’s career page. That’s up from three openings last week and two openings a month ago. The company said it would continue to hire in August.
IQVIA: 359 job openings in RTP, according to the company’s career page (down 30 openings compared to a month ago)

Report: Apple is the latest tech giant to implement hiring freeze

Even more Triangle jobs

Kyndryl: 73 job openings in RTP, according to the company’s career page
Labcorp: 297 job openings in Burlington, N.C., according to the company’s career page, an increase of 25 postings from a month ago
Lenovo: 189 job openings in Morrisville, according to the company’s career page, down 95 job openings from a month ago.
MetLife: 119 job openings in Cary, according to the company’s career page. MetLife told WRAL TechWire recently that it planned to hire 400 workers by New Year’s Day.
Merck: 8 job openings in the Triangle, according to the company’s career page, down 11 openings from a month ago
Microsoft: 7 job openings in Raleigh, according to the company’s career page. The company confirmed last month that it planned to make job cuts, with some 1,000 workers affected.
NetApp: 88 job openings in the Triangle, according to the company’s career page, down 24 job openings from a month ago.
Novo Nordisk: 244 jobs in the Triangle, according to the company’s career page. And even more jobs could be coming to the Novo Nordisk location in Johnston County, WRAL TechWire reported in October.
Novartis: 6 job openings in the Triangle, according to the company’s career page. The company is closing a Wilson plant.

Red Hat names three new senior execs in continuing shakeup under new CEO

Still more jobs in the Triangle

Pendo: 10 job openings in Raleigh, according to the company’s career page. The technology unicorn did announce there would be Pendo layoffs earlier this year totaling less than 5% of the company’s workforce, and less than two dozen employees in Raleigh affected.
Pfizer: 117 job openings in North Carolina, according to the company’s career page
Red Hat: 26 job openings in Raleigh, according to the company’s career page. Red Hat is owned by IBM and recently had a leadership change.
RTI International: 126 job openings in Durham, according to the company’s career page, up 12 openings from last week
SAS: 65 job openings in Cary, according to the company’s career page, down 68 openings from a month ago. Some of the available roles are remote-based positions.
Science 37: 3 job openings that could be based in Raleigh, though some other roles are remote positions
Sensus (Xylem): 43 job openings in the Triangle, according to the company’s career page
Spectrum: 39 job openings in the Triangle, according to the company’s career page
Syneos Health: 9 job openings in Raleigh, according to the company’s career page
Toshiba Global Commerce: 104 openings in Durham, according to the company’s career page, up 43 roles from a month ago.
Wolfspeed: 251 job openings in Durham, according to the company’s career page. The company announced a $5 billion investment that is expected to bring some 1,800 jobs to the region, as reported earlier this year by WRAL TechWire.
Worldwide Clinical Trials: 60 job openings in North Carolina, according to the company’s careers page