Raddy - any chance your little one could get a student visa in another country? I had two classmates in my professional degree program who were on student visas here in the US, and both are still here working now >15 years later - one in Washington, DC and one in Los Angeles. I'm not sure what paperwork is involved (I'm sure it's cumbersome), and it's difficult to be away from their families, but it worked out well for each of them.

FWIW, in the last 6 months, my company has increased our professional staff by 10%. It does sound like IT is tough right now. Throughout this recession, other sectors (e.g.healthcare) seem to have maintained/survived more or less.