What version of Photoshop?
See
Can you type on a path with Photoshop? I’d automatically reach for Illustrator for that.
Anyway, since it happens to be a circle, you can just rotate the whole thing, whether it’s live type or rasterized. But of course you must have it on a separate layer.
You’d have more problems if the path was, say, the outline of a lobster. Or a frightened cat.
Well, they sidestepped the shape of that cactus nicely, didn’t they?… 😉
So apparently you can these days, that’s nice. In the old days you’d have to "Export paths to Illustrator", and then bring it back in.
Sharon
I think PS text on a path works identical to Illustrators. Select the type in editing mode (probably by clicking on the T in the layers palette). There should be a little I beam within the text, at the start, middle, or end, depending on the alignment. You can drag that little I beam around to change the position. Be aware that you can also drag the beam to the center, if you want type inside the circle, not outside (you will probably do this by accident, most people do, just drag it back out if that’s what you want).
