The state of the economy isn't the only sadenning factor, but also as a CS/IT graduate you are competing on a worldwide scale against people who are willing to receive much less monetary compensation for their work.

Reminds me of that news article I read a few months ago about IBM asking their current U.S. employees to move to India/Nigeria/Russia in order to keep their jobs...

Here's the article, since I mentioned it... http://money.cnn.com/2009/02/05/news/companies/ibm_jobs/