It has always been like this.
For the individual training as an E&EE has always been about interest. It's a demanding subject and even when it was free to get a graduate degree it wasn't that popular as a subject. When I graduated there were very few jobs so I ended up in Diesel Generation and then as a support engineer, by which time any pretentious of being a hardware designer had started to melt away (I'd be starting from scratch). 30 years later I am a privacy and security expert.
If the industry wants more people then it has to do a better job of ensuring graduates are not lost to alternate careers at the early post-graduation stage. What makes me annoyed is having an industry which apparently says there aren't enough engineers when it neither pays well or does a good job of career management.
Any time I hear anybody say "We have a skills shortage in ___, I just think they don't want to pay the going rate"