From 1983-2012 and now 2017-19 there has always been a shortage of competent IT workers. It has always been full employment. Only 2012-2016 were times tough.
I don’t see much historical or factual basis for your reasoning. The project I’m on cannot find competent people to staff up. Sister projects run out of the same office of a Fortune 50 IT company cannot find enough competent workers.