Scientific American has an interesting article on scientists and science students participating in the OWS protests in Baltimore.
I wish I had more time to discuss this, because they're talking specifically about biochemists and the market for biologists is actually an interesting and unusual story. My read on most science and engineering labor markets is that concerns about shortages are way overblown - most of these markets are functioning just fine and respond well to price signals. Biology is a little different and has experienced a genuine glut in PhDs, so the concerns expressed here are in some ways unique to that field. A big part of the problem is supply-side policies in the market for scientific labor, which as Ken Boulding pointed out decades ago makes little sense compared to demand-side policies.
Anyway - if you want to learn more about the glut in the biologist labor market the person to read is Paula Stephan, and economist at Georgia State University.