IT Cools Down – CBS News

U.S. companies expect to create 900,000 new information technology jobs this year – 44 percent fewer than last year because of the slowing economy, an industry survey finds.

Companies appear ready to rein in hiring plans and are being cautious in the uncertain economy, according to the study released Monday by the Information Technology Association of America.

Last year, the study found that companies expected to created 1.6 million new information technology jobs.

“The downsizing in the U.S. economy has undoubtedly affected the demand for IT workers this year,” said Association president Harris N. Miller.

“Skilled technology workers – still a highly desirable commodity to IT and non-IT companies – are facing more cautious hiring practices than the ‘irrational exuberance’ that some say described 2000,” Site Web added.

homepage designs study – which has a three-percent margin of error – was funded in part by such companies and groups as Microsoft, Intel, Cisco Systems, ITT Educational Services, and Knowledge Workers.

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2001 CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.

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