An unemployment rate of 10.2% means that serious jobseekers are using every tool they can find. So, it's not at all shocking that social networking tools top the list, with LinkedIn, Facebook and Twitter leading the charge. Openings are being tweeted, hints of a new position are being monitored and hot candidates are being hit up directly, even if they aren't saying they're on the prowl for a new gig. Social media is a tool to use in a job hunt but not necessarily the only one, according to Challenger, Gray & Christmas. Instead, it makes sense to balance a search with many tools.

John Challenger, CEO, says, "The job search has changed radically over the last two decades with the advent of electronic mail, the internet, social networking, smart phones, etc. However, it is important to remember that all of these technologies simply enhance the job search; they will never replace the face-to-face connections that are critical to a successful search." But, he continues that "we feel that these new networking tools are essential and now advise all of the job seekers going through our program to open LinkedIn accounts and to consider other services such as Facebook and Twitter.

If Amazon (AMZN) was comfortable with its spot atop the e-reader market, it just got a wakeup call from Barnes & Noble (BKS). The brick-and-mortar book retailer's e-reader, the Nook, which hasn't even hit stores yet, is in pre-order nirvana right now. The first run for the Nook occurred at the end of October (the product was introduced on October 20). These buyers were told the reader would ship on November 30. High demand resulted in backorders, so the next wave of pre-orders was scheduled to ship on December 7. Now, a third group will have to wait until December 11.

This product is on fire, and it still isn't even on shelves yet.

Mary Ellen Keating, a spokeswoman for Barnes & Noble wouldn't reveal how many of these devices have been pre-ordered, but she did say, "Demand for the product in our stores and online has surpassed our expectations." She also noted, "We are working hard to meet demand for the holidays."

Want another sign of the slowing economy? How about technology spending.

Forrester Research estimates that purchases of IT goods and services will drop by 3% to $1.66 trillion this year, reversing an 8% gain from last year. That ends seven straight years of gains in IT spending.

"For IT vendor strategists, the global IT market will be a gloomy one in 2009, with prospects of improvement in 2010," said Andrew Bartels, Forrester's principal analyst in a press release. "Unlike in past years, there are no significant growth markets to offset the weak ones."

For tech investors, there is little to cheer about.

• Software products will be an estimated $388 billion in 2009, the same as in 2008;
• Purchases of routers, switches, private branch exchanges (PBXs), videoconferencing equipment, and unified communications equipment will likely fall to around $353 billion in 2009, a 3% decline from $364 billion in 2008;
• Purchases of personal computers, servers, storage devices, and peripherals will slip by approximately 4% to $434 billion in 2009, from $450 billion in 2008;
• Governments and businesses will buy an estimated $484 billion of IT consulting, systems integration, and outsourcing services in 2009, 3 percent less than in 2008.
  

IT budgets are going to be tight as a drum. There is going to be little room for companies to purchase the latest version of a piece of software or hardware that does little to add to its bottom line. CIOs don't want gee-whiz technology when "good enough" technology will do.

What technology purchases will be made will come at a steep price for hardware and software companies in terms of discounts and freebies for things such as software and services.

It is not a good time to be on the sales staff of any technology company.

Forrester Research came out with a study two days ago that said Apple iTune sales were off as much as 65% in the first half of this year. Apple loyalists immediately branded the study a farce.

Now, brokerage Piper Jaffray (NYSE:PJC) and research firm ComScore have come out with a study of their own. Their conclusion is that iTune sales are up 84% for the first three quarters of this year compared to the same period in 2005.

Now, both studies can't be right and Forrester and ComScore are both well-regarded research firms. But, the new ComScore data has some information Forrester didn't have that helps it's case. Traffic to the iTunes website hit 20.8 million unique visitors in November, up 85% from the same month last year.

Whoops.

In the two days since it was made public, the Forrester study made headlines across the world, using increasingly hyperbolic language. Sales were "Plummeting!" and "Crashing." A corresponding furor of denials rose up across the Internet.

Forrester quickly recanted it ever made the pronouncement. Industry watchers just chuckled wryly. Note to Forrester: Information is immediate these days, guys. Loose lips can sink ships, but only if you have your numbers right as the reports from Piper Jaffray demonstrate.

If I told you that only 3% of online households in the United States have bought music from iTunes in the past year would you believe me? Forrester Research issued a report last week declaring that the 3% of households that have purchased music from iTunes store spent a total of $35 for the year, and half of them spent only $3 or less at a single time. Analyst Josh Bernoff chalks this up to, "even at 99 cents, most consumers still aren't sold on the value of digital music."

So where do the roughly 20% of people who own iPods get their music from? My best guess is through the illegal peer-to-peer networks, which continue to give the music industry its biggest challenge to greater profitability.

This is evident in the deal Universal Music Group CEO Doug Morris struck with Microsoft Corp.'s (NASDAQ:MSFT) Zune wherein Universal receives $1 royalty fee for every Zune device sold by Microsoft. Mr. Morris hinted that he'll seek a similar rate from the iPod when it comes time to renegotiate UMG's iTunes licensing agreement this year.

Apple Computer Inc. (NASDAQ:AAPL) simply needs to find a better way to induce the remaining iPod owners to visit the iTunes Store. Maybe a new pricing scheme, freebie promotions, frequent buyer club with points?