By Sandeep Junnarkar, Cecily Barnes and Rachel Konrad
Staff Writers, CNET News.com
November 2, 2000, 4:00 a.m. PT

Reports about the death of the digital economy have been vastly exaggerated.

Despite the dire warnings that have induced investors to abandon dot-com companies, many other high-tech businesses are expanding exponentially--and they can't find enough people to hire. Even as some high-profile areas such as e-tailing undergo difficult consolidation, less glamorous fields like Internet infrastructure are creating jobs faster than failing Web companies can eliminate them.

Complicating matters further, this unique labor market is the first for many young workers whose values regarding time, money and life in general differ vastly from those of their predecessors. This Generation Y work force is also learning what rights they have--and do not have--when faced with sudden unemployment, and the resulting brick-and-mortar education is not always a happy one.

The unprecedented labor landscape is forcing major changes among both companies and candidates. And the resulting new job model will undoubtedly influence other industries, perhaps redefining the American work ethic in the 21st century.

Silver lining in layoffs
The booming technology job market has fundamentally altered the way today's workers view unemployment. Instead of seeing their world collapsing, laid-off workers simply assume they will work somewhere else--and on their terms.

Bill of rights for labor
Federal laws have long provided protection for laid-off workers. But what happens to those who work at the many young dot-com companies that do not qualify for government help when they go under?

A new attitude in force
Companies are being forced to rethink employment strategies for a growing number of young people in the work force. This new generation has very different ideas about work, and they're not about to sacrifice their lives for it.

Where are the hot jobs?
Businesses such as content and e-tailing have fallen on hard times, but there is no shortage of jobs in other fields. Wireless, networking and, as always, engineering are among the categories most in demand.

Go to: Silver lining in layoffs 

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