But there is little evidence of that so far. Certainly, there is a bit of a slowdown. Some of the big IT suppliers have seen a sharp weakening in sales. And there's the famous fall in technology share prices manifested most obviously in the collapse of the Nasdaq market. But people are not queuing up on the window ledges.
Unemployment is very low.
It may take a little more time now than it did. Nicholas Hall, himself a victim who now runs a web-site for entrepreneurs having a hard time, says it's no bad thing if workers and employers take a bit longer to check one another out. Change of climate Technology businesses seeking investment money to get started also say the atmosphere has changed. Andrew Wei runs Club Photo, a company associated with an existing photographic processor developing a system to use the internet for generating new orders. He says that venture capitalists used to want to know how quickly a new company could get to the stock market.