well, job market is lot better last year and this year. I can say this because I have been offered position from few companies and most of my friends also able to find job right after graduation. I was one of the few unlucky people who missed quota last year and hoping to get one this year. It is true that this kind of proposal also came last year but senate did not approve. Surprisingly, democrats are not in favor of more H1B and with democrats are in majority in both houses, i am not sure how fruitful this proposal will be for all of us. lets hope, this bill will pass and many more foreigner will get chance to fulfill their dream. If situation remains same, it will be even worse next year, even masters quota might get filled in first day itself. There are jobs, thats why there are so many applicants.