I'm asking because .. I do, and let me tell you, it sucks. We've had open reqs for months now that we haven't been able to fill, and that's not due to lack of trying.
I recently read a comment from a (now) friend who was my manager years ago; "If I need a Sr. Engineer, I advertise for an Architect. If I need an engineer, I advertise for a senior".
I'm finding this to be completely true. I've interviewed people recently for Senior positions who can't pass the FizzBang test, never mind anything more complicated (and we don't start with fizzbang, it's usually a last resort during the interview), I'm not quite sure if their resumes are simply complete works of fiction or if someone has actually been paying them for some reason.
I almost am willing to theorize that the dot-bomb fallout isn't over, and that there are still many, many "engineers" and "developers" who have been incredibly over-employed for many years who now find themselves out of work. If I were looking for Jr. developers, some of these people *might* make the cut.