An article today on searchNetworking suggests that companies looking to cut costs during these rough times may be reluctant to pay for network certification classes for their networking professionals; and the professionals themselves are not likely to pony up the substantial dough that is required to get those letters after their names.
But at the same time, hiring managers, when they see that CCNA, MCSE, or whatever on the resume, are still more likely to short-list that candidate. Regardless of the economy, there's still nothing like a good certification to say, "Hey, I can do this job." But at the end of the day, it's a dollar-based decision. Companies don't want to spend the bucks to get certifications for their staff, and professionals between jobs can't afford to do it themselves.
This trend however, may work in favor of VARs and other outside consultants, who are more likely to have the certifications. If companies themselves are short on certified experts, they are that much more likely to look for that certified expertise in their consulting contracts. Bottom line, this will be a great time for VARs to promote those extra letters their people offer--and to not skimp on the training themselves.