I don't think the example they came up with is really useful - how many engineers are really in the market for 50k/year jobs? It seems very low, so it is no wonder that he can't find qualified applicants.
As for the structural change, yep that is partly what is happening, but there is also a cyclical downturn.
Employers often seem blind to the fact that the job market is a free market - if you can't get applicants for a post at the rate you are offering then it's because you aren't offering the right amount of money. Don't whine about getting the government to educate more employees with the right skills - pay more money!
We don't need h1b's for them. A foreign CEO will come in on an L visa (in the case of promotion) or an EB5 (for outside candidates). I think there is another category I am forgetting.
No doubt! I took a web development job for less than that 10 years ago in higher ed when I was 22 and had no professional experience... of course they also gave me free healthcare, free tuition for my whole family, generous vacation, sick days and holidays, and a fantastic retirement system that when I turn 65 is slated to pay me $650 a month until the day I die, even though I only worked there 5 years.
Now I'm not sure what "qualified" means in this case, but it doesn't sound like they are hiring people fresh out of school, which they should be at that rate.
As for the structural change, yep that is partly what is happening, but there is also a cyclical downturn.