Going into the last weeks of the year, the news around us is not pretty - sub-prime, falling US Dollar, and the talk of the dreaded "R" word is gaining strength.  Today, Market Watch has this report regarding layoffs. Here is another. Didn't mean to ruin your holidays, but what does this all mean for IT workers.

On one hand we have Oracle which posted a 35% rise in fiscal second-quarter profit today and they are hiring (Jobs in Oracle) but on the other hand we have major financial institutions, banking or otherwise reeling under the sub-prime exposure.

There is a theory that layoffs is a trailing indicator of a recession as employers do not want to lose their good employees and tend to hold off on making  a call on layoffs until well after a recession has begun. If we are already in a recession, it sure does not feel that way looking at the number of jobs advertised. OdinJobs has indexed well over 500,000 IT jobs in Nov and is on track to reach that mark in Dec.

There you have it, there are financial problems besetting us all but companies are still hiring, so what gives?

 

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