Earlier quoted context omitted.
I am in STEM and I honestly think there's a shortage of smart STEM workers, because not every person trained or experienced in STEM is someone I would hire. Ask around, you'll find quite a few people like me.
That's like saying there's a shortage of good STEM jobs because I wouldn't take any STEM job out there.
https://en.wikipedia.org/wiki/The_Market_for_Lemons
So we end up with employers who don't want to pay top dollar in case they get a lemon, and competent developers who are either happy where they are or unwilling to work for lemon rates.
And have you interviewed candidates for development positions recently? It is depressing, and I say that as someone who catches flak about being too generous and letting too many "poor-quality" candidates through screens.