USCIS said that all of the 58000 vacant slots for the H1B cap for the year 2008 was reached on the first day when the application were started to be accepted. They actually received way more than 58000 applications and even for those who filed on the first day, its going to be a lottery to decide whether they will get their H1B or not. Also for the master's cap as of 04/26/07, only 1300 more vacancies are left which are bound to fill up soon.

This is really pathetic for those who are looking for an opportunity to work in the US and for those who are already in US for their studies and need a job to pay off their loans. This also shows how many people are looking to work in US but the US government is totally ignorant towards it. It has been long proposed to increase the number of slots for H1B but like all other issues, its still pending. Latest information on how many slots are still left can be found at the USCIS website at the following link:

Current Cap Count for Non-Immigrant Worker Visas for Fiscal Year 2008