It is true, economic times are pretty hard right now for most in house and even large business consulting firms. Many big companies just are not spending extra money on things that they don’t deem as necessary for their company to survive. Because consulting is often something that is outsourced and isn’t needed for a company to keep functioning consultants may find opportunities a bit harder to come by right now.
You need to really analyze the current market conditions and see what companies actually are looking for and need. Just because the economy has slowed down a bit does not mean that people stop doing business. In fact the opposite is true.
The bottom line is now is not a time to give up searching for work. There is tons of consulting work out there but you just need to know where to look and what to offer!