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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 71.75-0.5%3:59 PM EST
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To: faqsnlojiks who wrote (63768)5/2/2003 12:33:04 AM
From: Victor Lazlo  Read Replies (2) of 77397
 
Here in the northeast, I know many IT people who are out of work. Some of them are getting contract work, the next best thing.

A real problem is that some of these folks are well into their 40s and some ihn their 50's.

So as the companies that do hire obviously screen out older workers from consideration due to the adverse affect they'll have on the co's health insurance premiums, and the higher salaries they will expect. Some companies are facing health ins premium hikes of 12% to 20% this yr. That's huge.

I'm not an IT guy, but even during the boom years of the 1990's, i heard many people tell me theere were plenty of skilled software people, the problem was that some of them demanded higher pay then the co's were willing to pay. And the co's were esp reluctant to pay up for older IT workers.

So the co's got the legislation passed to import wokers.
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