Is there a future for IT in North America?

I keep hearing mixed sides of the argument on the state of the IT industry. I hear arguments such as there will no entry level jobs in the future due to outsoucing, while some others suggest when the economy improves then there will be a demand for IT professionals.

I’ve been recently laid off and plan on going back to school. My hope is to get into Network Administrator.

Am I making a mistake and the IT industry is dead, or will there be hope in the next few years?