There are always newspaper titles saying "we need more engineers", "where are all the engineers" or something similar.
To answer that. It's simple. The pay is bad.
We study for 4-5 years to get an Mech engineering degree and are promised 80K AUD+ starting salary (by many Australian universities).
The truth is you end up in debt whilst being removed from the work force for 4-5 years while studying. And you end up earning 40K AUD a year maybe a random few might earn 80K a year.
You end up in a position where you are highly trained and educated just to do CAD file translations. Surrounded by people who are not trained or educated who earn just as much or more then you.
Most Mechanical engineers (if smart) leave engineering and go to finance/software. I'd agree that the world needs more engineers to build things and make things more efficient and automated but the world wants and rewards administration and bureaucracy.