The economic crisis is on the news here every day. Large companies are laying off people. Yesterday, it was announced that a bank is going to lay off 2,700 employees which is a very big mass layoff here in the Netherlands.
I don't know what this means for IT. On one hand there are stories that companies want to spend less money on IT, but on the other hand I read stories that for certain specialists, such as web application developers, there's more than enough work in 2009 and that they will be in higher demand.
It's hard to predict what this crisis will mean for the IT job market.