Though there may be some degree of cushion for IT workers in the US
generally, Slatterz writes "The steadily climbing unemployment rate in Silicon Valley has reached a shocking four-year high
of 6.6 per cent. Recent statistics indicate that the percentage of unemployed workers in the sunny state of California has increased to 7.7 in August — up from 7.4 per cent in July. Jeffrey Lindsay of Bernstein Research explained that a number of Internet firms were chronically overstaffed."