Chicago — While this economic crisis may be a tough time for the American workforce, it’s proving to be inordinately rough for IT professionals in the insurance industry and beyond. A myriad of factors have combined to create what is, in effect, a perfect storm for IT workers, and the outlook is grim.

This was the message from Janco Associates Inc., Park City, Utah, which released its January 2009 IT Salary Survey this week. The survey charts the salaries of IT workers, and includes data from insurance companies, among others.   “The job market for IT professionals is one of the worst that I have seen since the late 1970s,” says Victor Janulaitis, CEO of Janco Associates. “There is a surplus of IT talent and companies are in a cost-cutting mode. The dot com bubble was a cakewalk compared to this job market.”

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