But beware, the labor shortage! I was reading a news story about the 1.8 percent unemployment rate in northern Virginia and the reporter had to point out that when the unemployment rate went below 2 percent, we would be in danger (we're doomed) of a labor shortage.
Yes, they're right -- WE'RE DOOMED! ;-)
There will definitely be a labor shortage soon, at least a shortage of technical-types.
I notice that the "telecom" sector has not yet started to put on weight. That will come in time, before this cycle is much more underway. When that starts, the demand for tech labor is going to skyrocket.
I would not at all be surprised if that is starting RIGHT now as the smartest companies look at the economy and anticipate that they would rather try to pick them now before the labor market tightens further.