Perhaps business isn't really that bad after all. U.S. buyers are increasingly homeshoring their software and Web development work, according to oDesk. Work done in the U.S. has grown at a rate of 367% from 2007 to 2008, according to the popular freelance marketplace for online workteams.

"When people in the U.S. think of outsourcing, they typically think of lower-cost countries," said oDesk CEO Gary Swart. "But, we're seeing an interesting trend of U.S. companies increasingly turning to U.S.-based talent for their contracting needs."

Unfortunately, that may be thanks to the rise in layoffs. There is clearly an increase in the number of highly qualified developers available for projects (as seen below) which takes away from growth in other countries such as India and Russia. The influx of skilled developers also drives hourly rates higher.