For more general environments, it's probably not a shortage of engineers, just a shortage of engineers who will enthusiastically work at the rates that employers would prefer to pay.
On the other hand, times when companies were loyal to their employees are long gone, and this is pretty much why employees switch jobs so often nowadays.
"Now, let's review some microeconomics. In a free market, it is almost axiomatic that the market always clears. That's a technical term that means that when somebody tries to sell something, if they are willing to accept the market price, they will be able to sell it, and when somebody wants to buy something, if they are willing to pay the market price, they will be able to buy it. It's just a matter of both sides accepting the market price.?"
I don't think there is a shortage for engineer without much real world experiences.
