i think that greatly depends on the way you define the word 'programmer'.
If programmer to you means someone that can code php and maybe do a bit of css work to help build web applications then yes, the economy has changed that, there are quite a few people like that looking for work right now so the going rate is down (my estimation about 20..30%).
If by programmer you mean somebody that can take a complex problem or specification and solve it or realize that spec then I think the market is unchanged, mostly because there always was - and probably always will be - a shortage of such people.
If programmer to you means someone that can code php and maybe do a bit of css work to help build web applications then yes, the economy has changed that, there are quite a few people like that looking for work right now so the going rate is down (my estimation about 20..30%).
If by programmer you mean somebody that can take a complex problem or specification and solve it or realize that spec then I think the market is unchanged, mostly because there always was - and probably always will be - a shortage of such people.