For the last 10+ years of my working in the programming area, the only problem that I constantly observed everywhere was hiring good people. There probably was a time around dotcom crash when supply actually exceeded demand and nobody was hiring, but that passed quickly. Normally what I see and hear - internally, externally, in conferences, etc. is "do you know anybody good that does X? We're hiring". Maybe of course I'm living in a bubble but that has to be big enough bubble to accomodate significant number of people. You can also see it in other way. Just look at the salaries - if supply exceeds demand so much, the salaries should be pretty darn low, right? It's better have low paid work than no work at all, after all. So, are they?