500,000 U.S. IT Jobs Projected to Move Overseas by Year-End '04; IEEE-USA Sees Continued Loss in U.S. Economic Competitiveness

From an IEEE release on the U.S. Newswire:

One-half million jobs, or 10 percent of the U.S. information technology (IT) professionals currently working in IT services firms, will be displaced in the next 18 months as their jobs move overseas, according to Gartner, Inc., the Stamford, Conn.-based research firm. The Gartner projection, in a 15 July research note by Diane Morello, would bring total IT job losses to one million, when added to the 500,000 IT professionals estimated by the Bureau of Labor Statistics to have lost their jobs in the United States since 2001. read more...