Today USCIS announced that the H-1B cap for this fiscal year (FY 2012) has been reached. The government will not accept any new, cap-subject H-1B petitions received after November 22, 2011 that are requesting an employment start date in FY 2012.
The USCIS will continue to process H-1B applications for individuals already in H-1B status seeking to extend their status or seeking to change their terms of employment (including those seeking a change in employer). In addition, applications will still be accepted for H-1B employees seeking concurrent H-1B employment and the government will continue to accept cap exempt H-1B petitions (for instance, individuals seeking to work at an institution of higher education, physicians that have obtaining a Conrad 30 J-1 waiver, etc).
Please see full publication below for more information.