NC TECH recently released their annual North Carolina State of Technology Industry Report (STIR), which provides an overview of the tech sector in North Carolina and contains trends, statistics, details, and predictions regarding the industry’s development in our state. On February 7, 2018, NC TECH held their annual NC STIR Briefing. Ted Abernathy, Managing Director for Economic Leadership, presented the highlights and key findings of the report.
The full report can be accessed here. Here are some of the highlights from the briefing.
Technology Industry by the Numbers:
- The United States has experienced 88 consecutive months of employment growth, the longest length of experienced growth on record. This trend has begun to slowly decline over the past three years, so a change in the job market is likely to happen in the near future.
- North Carolina has outperformed or maintained the national average for employment growth for the past three years. The low unemployment rate is great news for job seekers but makes it difficult for businesses to find the talent that they need.
- In 2016, the tech industry employed over 247,000 people and was worth $82 billion in sales revenue in the state of North Carolina.
- Technology accounts for 5.8% of all jobs in the state, but almost 11% of the state’s total wage earnings and sales.
North Carolina’s Latest Rankings:
- North Carolina is the #1 state in the nation for having the highest percentage of its tech workforce made up of women (36.5%).
- Tech employment is estimated to grow 10.4% from now until 2022 in North Carolina, ranking NC the #2 state in the country for highest expected tech sector employment growth.
- In the past five years, North Carolina has demonstrated the 3rd highest job growth rate in the tech sector nationwide, at a rate of 17.4%. The national average is 7.7%.
- North Carolina ranks 4th in higher education research and development in science and engineering.
Given all these numbers, rankings, and statistics, a few things remain clear. First, the technology industry continues to accelerate at a rapid pace, particularly in places like North Carolina. Second, low unemployment rates combined with rapid growth have made it more difficult than ever to locate talent for all kinds of positions, but especially in the technology industry. For job seekers looking to enter or grow in the tech sector, there are few places better to live than North Carolina to accomplish this goal. For businesses, North Carolina continues to prove itself in being a great place to grow and thrive.
Whether you are a job seeker looking for your next role or a business looking for that next star performer, Greene Resources would love to be part of your journey. Join our Talent Network to see our current list of openings or send us a message about your next project so we can see how we can help.
If you’d like more information on tech talent trends in North Carolina, Greene Resources has partnered with NC TECH in 2018 to share monthly reports on current hiring activity. Check out NC TECH’s website to view the most recent reporting.