I think thats bs, i wouldnt have done IT if its true. Apart from the fact that you wont graduate for atleast 3 years, jobs in the industry, although obviously not as great in number as before, still exist and are steady. Think about it, the numbers of graduates have dropped, in UNSW this has been as large as 50% decrease, in USYD there are still vacancies in your course. So when you graduate there will be less IT graduates than before.