Yep, it's Market flooding.. and the hilarious thing is people still think that trend is still in effect that there is a shortage... well they are right to an extent.. there is a shortage pf people who have a clue.
Oh there is a shortage alright. A shortage of skilled, experienced individuals. EVERY PROFESSION IN THE WORLD has a shortage of SKILLED experienced laborers. Unfortunately IT used to have a shortage of even unskilled, inexperienced people. That particular shortage no longer exists.