FBN, to answer your question, yes, but only indirectly. A very large proportion of IT contractors are being forced to quit contracting and take up permanent roles. This would typically involve taking a pay cut of around 60%, although the additional benefits such as pension, health insurance, training etc. would mean that in real terms the pay cut is only 40-50%.
As for new recruits, no, there is no problem with new recruits. This is because the role of a new recruit is often very different to the role of an experienced professional. Having been in the industry for 6 years, I would be very unhappy if I were asked to do the role of a new recruit. Many who have been in the industry for far longer than me would be even more unhappy. Therefore, companies have to take on graduates continually to ensure they have people who are prepared to do this work. This is not the case in the airlines - a 250hr first officer will do exactly the same job as a 5000hr first officer, and so the company will hire whichever they think will cost them the least in the long run.
FFF
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