I assume you are aware engineering degree prospects are overrated because of poor careers advice and false assumptions held by society, teachers, parents, people in general. Student numbers are going up, lack of entry level jobs (2:1 ratio of grads to positions, heading towards 3:1 with the current spending on study STEM type initiatives).
There is a lack of experienced engineers but it is not due to people wanting or trying, but the majority of engineering graduates being "unwilling or unable" to enter the industry.