Earlier quoted context omitted.
There is a shortage of applicants willing to work at what companies want to pay. If it is taking more than 30-60 days for workers to find a role, there are enough workers domestically.
There's a shortage of applicants with the skills that companies need. Engineers, like most qualified workforce, aren't interchangeable.
[1] https://www.bloomberg.com/graphics/2024-cognizant-h1b-visas-... | https://archive.today/jaXNo
[2] https://www.epi.org/publication/new-evidence-widespread-wage...
[3] https://cis.org/North/Unlikely-Sources-Confirm-Wage-Suppress...
[4] http://www.sciencemag.org/careers/2015/05/economists-h-1b-vi...
[5] https://gspp.berkeley.edu/assets/uploads/research/pdf/h1b.pd...
[6] https://stig.net/latam-outsourcing-destination-us-companies/
[7] https://www.wsj.com/articles/it-unemployment-hits-6-amid-ove...