Nearly 10% of the IT workforce vanished in the last two months of 2002, an InformationWeek analysis of Bureau of Labor Statistics data shows. Some 272,530 Americans who considered themselves IT professionals in October no longer did so in December, as the IT workforce fell to 2.6 million.

Where did they go? Many likely got jobs in other professions. "A large percentage of IT workers are shell-shocked by the unexpected high unemployment rate," says Tom Fullerton, an associate professor of economics at the University of Texas-El Paso. "IT skills are transferable to other segments of the economy." IT joblessness stood at 5.6% in December. The workforce includes those employed and the unemployed looking for IT jobs.

Nearly all those leaving the IT workforce--all but 5,066--were age 40 or younger. University of North Carolina finance professor James Smith says younger IT workers are less tied to the profession and more willing to accept jobs in other fields where they might get lower salaries but enjoy better prospects.