As most applicants for H-1B work visas probably know, they were able to file their H-1B petitions starting on April 1, 2011. As of May 13, 2011, USCIS has received on or about 11,200 regular cap H-1B cases and on or about 7,900 advanced cap (i.e. U.S. earned Master’s) H-1B cases. The USCIS allows 65,000 regular cap cases and 20,000 advanced cap cases for each year before they begin refusing to accept H-1B petitions.
As you can see, H-1B seekers that are still looking for sponsors have some time left for them to find a sponsor and submit the voluminous paperwork required to obtain an H-1B visa.