Tech job market to stay bleak, study says

USA Today ^ | 5/6/03 | AP

[Paloma_55]

Technology job hunters will find slim pickings for at least another year, according to a survey released Monday. Demand for information technology positions ranging from software programmers to network engineers will hold steady or decline in the next 12 months, according to a telephone poll of 400 hiring managers by the Arlington, Va.-based Information Technology Association of America.

"The fact that firms have dramatically scaled back ... may indicate that they are properly staffed to handle existing and new business," ITAA President Harris Miller said

[Paloma_55]

Clinton Economy based on LIES

Remember the "information superhighway" that was promoted in 92, got Bill and Al the first-ever major support of the Silicon Valley business community, and spurred the fastest growth of tech stocks in history???

Imagine that Bill and Al said "We are going to build a 12 lane highway from San Fran to New York... brand new.. with bridges, on-ramps, all the fixins..."
Imagine the sudden rush of investment into concrete production, asphalt suppliers, contractors, etc... the economy would jump to meet the demand.

Then figure out what happens when reality hits and we discover that the highway not only doesn't have 12 lanes, but it isn't gonna get built. And a ton of companies that sprung up to build it have been selling stock way over its value and are now going to be going out of business and leaving investors high and dry...
Imagine the impact on the economy.

We call that the

Clinton Economy

...
Now, lets' blame Bush for it...

[Paloma_55]

Economic Indicators are showing what happens when the market has been lied to for 8 years and has now faced reality... there is no giant federal "Information Superhighway" and therefore the tech market has contracted. Try actually rebutting my points.

[rmlew]

Can we stop issuing H1-B Visas already!

[OldFriend]

It's not so much the visas but that the large corporations are moving their tech jobs to India, the Philippines, and other asian countries. Offshore is the latest rush to incompetence.

[Paloma_55]

Can we stop issuing H1-B Visas already!

While I don't disagree... I think we should shut down the borders for a while... The real problem is that the Tech market was over-sold during the Clinton era based upon the imaginary "Information Superhighway" and once reality set in, tech stocks (and the rest of the market with it) took a huge dive. That has led to the recession we are in.

Some areas of the economy are still good. Housing is not really that bad despite the tech job losses for example.

[rmlew]

1. The NY market for housing is not all that good.
2. I work in tech.

[Paloma_55]

As soon as I posted that I realized that the housing market may not be as good everywhere as it is out here in NoCal.

My point was that the Clinton Economy was based upon lies and the current economy is a natural correction that occurred when people discovered the truth.