Local News
Triangle job postings drop as signs of recession add up
Over the last month, local job openings have declined on most of the major job boards WRAL TechWire tracks for our weekly Jobs Report.
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Over the last month, local job openings have declined on most of the major job boards WRAL TechWire tracks for our weekly Jobs Report.
TOMORROW. AND IF WE SEE ANY INCREASE OR IMPROVEMENT IN THAT AREA, BACK TO CAN GO NOWHERE. BUT UP, I ARE YOU TALKING ABOUT STOCKS? MARK SAID THEY'RE DOWN. SO IS THE NUMBER OF JOBS BEING POSTED BY LOCAL COMPANIES. W E'LL TECH WIRE FOUND BUSINESSES ARE MAKING CHANGES NOW PREPARING FOR WHAT COULD BE A RECESSION IN THE NEAR FUTURE. WR IS MATT TALHELM IS LIVE IN RALEIGH TO EXPLAIN HOW THE ANTICIPATION IS AFFECTING THE CURRENT JOB MARKET. THAT. >> YEAH, GERALD, YOU KNOW, WE'VE SEEN THESE HIRING SIGNS EVERYWHERE. A SIGN OF THE TIMES IN A TIGHT LABOR MARKET. IT'S FORCED COMPANIES TO COMPETE FOR WORKERS. IT'S ALSO MADE THEM RAISE PAY TO GET THOSE WORKERS. BUT THE ECONOMISTS I TALKED TO TODAY SAY THOSE DAYS ARE NUMBERED. WAS THE SOCIAL MEDIA ACCOUNTS GO? THE TEAM AND FRANKEL, STAFFING PARTNERS RECRUITS EMPLOYEES TO FILL PROFESSIONAL POSITIONS IN OFFICES ACROSS THE TRIANGLE. THERE ARE NEW POSITIONS OUT THERE. >> THERE ARE COMPANIES THAT ARE HIGHER IN PRESIDENT. ROD FRANKEL SAYS HE'S NOT SEEING A SLOWDOWN HERE. WE HAVE TO BE THANKFUL FOR THE BUSINESSES THAT ARE CONTINUING TO GROW THE SMALL BUSINESSES THAT ARE CONTINUING THE ENTREPRENEURIAL SPIRIT. >> AND ARE CONTINUING TO HIRE. BUT AS THE FED RAISES INTEREST RATES TO SLOWDOWN, RECORD-HIGH INFLATION, BUSINESSES ARE BRACING FOR A POSSIBLE RECESSION. WE'RE NOW IN THAT THAT PERIOD OF TIME HOPEFULLY WILL BE A SHORT PERIOD OF TIME. BUT WE'RE IN THAT PERIOD OF TIME. WERE SOME BELT TIGHTENING IS GOING ON? THE WRAL TECH WIRE TEAM HAS BEEN TRACKING JOB POSTINGS IN THE TRIANGLE FOR MONTHS, ALL BUT ONE OF THE MAJOR ONLINE JOB BOARDS SHOW FEWER OPENINGS NOW COMPARED TO A MONTH AGO. THE NUMBER OF POSTINGS DROPPED BY THE THOUSANDS ON LINKED IN INDEED IN ZIP RECRUITER, ONLY AT ZOO. NO LISTS MORE OPENINGS THAN IN MID-MAY. >> TECH JOBS ARE THE EXCEPTION WITH DEMAND GROWING FOR WORKERS OVER THE NEXT FEW MONTHS. I BELIEVED THAT THAT DEMAND FOR LABOR WILL MODERATE. WE HAVE TO DUKE FREQUENT BUSINESS SCHOOL PROFESSOR CAMPBELL HARVEY AND NC STATE ECONOMIST MIKE WALDEN. WHAT THAT MEANS IF YOU'RE IN THE MARKET FOR A NEW JOB AND NOW IS DEFINITELY NOT THE TIME. IF YOU DON'T LIKE YOUR JOB JUST TO QUIT AND LOOK AROUND, PROBABLY. >> AND THE ABILITY TO CHANGE JOBS AND GET A BETTER JOB QUICKLY IN THE COMING MONTHS IS GOING TO BE MUCH LESS LUCRATIVE IN MUCH LESS POSSIBLE THAT IT WAS IN THE LAST YEAR. FRANKEL RECOMMENDS PEOPLE EVALUATE THEIR CURRENT POSITIONS BEFORE MAKING THE JUMP INTO A NEW JOB. RIGHT NOW. YOU NEED TO BE VERY CERTAIN BEFORE YOU MAKE UP A DECISION LIKE LEAVING YOUR CURRENT COMPANY. >> WELL DONE TELLS US HE ANTICIPATES A RECESSION AT THE END OF THIS YEAR OR EARLY INTO NEXT YEAR. AND HE THINKS IT WILL LAST ABOUT 2 QUARTERS JUST ABOUT 6 MONTHS. HE SAYS THAT BY THIS TIME NEXT YEAR, SPRING, EARLY SUMMER, WE SHOULD BE SEEING THE ECONOMY GROWING AGAIN AND THAT RECESSION OR INFLATION RATE STARTING TO GO DOWN. GERALD, IT WILL BE NICE