H-1B status is a temporary, work-authorized status for individuals working in "specialty occupations", which are occupations that require, at minimum, a bachelor's degree in a specialized area. The government limits the number of new H-1B approvals to 65,000 per fiscal year (and makes an additional 20,000 slots available to individuals with a master's or higher degree from a U.S. institution of higher education). This quota is referred to as the "H-1B cap" and, in most circumstances, only applies to individuals who are initially seeking H-1B status (it does not apply - in most instances - to individuals who have been in H-1B status and are seeking an extension or transfer to another employer). In addition, some employers are exempt from this H-1B cap (such as institutions of higher education, nonprofit research organizations, and government research organizations).
USCIS indicated that as of October 29, 2010, 45,600 H-1B cap-subject petitions had been receipted (and an additional 16,700 H-1B petitions for foreign nationals with advanced degrees). Therefore, there are still H-1B slots available for this fiscal year. Since it is impossible to predict how fast the remaining H-1B slots will be available, if you are interested in sponsoring any new H-1B employees, please contact us as soon as possible.