In Ireland, the government admitted we're in a recession last week.
It's only really for the construction sector, as our economy for 10 years was based around housing.
There's huge amounts of unemployment and layoffs, but I.T. is doing okay: we've got the headquarters of Google, Amazon, eBay, Yahoo, and Paypal here, and Facebook just announced they're moving here pretty soon.
We do have ridiculous wages for I.T., though.
I'm 28, an I.T. contractor, and I make $7k USD a month.
Apparently you can get more in Australia now, so a lot of people are moving there