Could we please stop perpetuating this myth? If there really was a shortage, companies would fall over each other trying to hire anyone they could, not make it almost impossible to get hired by imposing ridiculous and long interview processes.
This doesn't follow. Gold is a scarce resource. This doesn't mean that gold purchasers should stop using assays to determine if they are buying gold or pyrite.
This problem is made worse by the lack of investment in training once hired, as some are discussing in these comments. Companies become even more reliant on the hiring process to produce the perfect candidate, and employed people are encouraged to stagnate their skills which dwindles the talent pool further.
Most companies, in my own personal experience, do fall over themselves to hire proven great candidates right now. Update your linkedin with some engineering accomplishments in in-demand fields like devops, cloud infrastructure, or machine learning, or at well known companies and watch the recruiters circle like sharks in heat.
If you're going to make that claim it would be helpful to cite a source or two. Would also be nice to know how much it "exceeds most of other industries", if the average wage growth is 3% but it's 3.1% for us that's not very meaningful.
Unless increasing wages don't directly cause supply to increase overnight.
Of course some of the interview processes are ridicilous, but after seeing the world from the other side of the table I understand where they are coming from.