One famous man once said "If everybody's thinking the same thing, nobody's thinking." That was General Patton.
As long as the real leader remembers this, his organization should be OK, regardless of his perceived intelligence. As usual, the ability (capacity) to listen is the key. A core foundation for any manager, anyway.
I couldn't agree more that this is often a problem in IT organizations. However, I call it narcissism. And unfortunately, it's not only in the IT department.
The problem with the employment rate statistics is that they do not capture anything but who's eligible for unemployment. Once you're ineligible for unemployment, why would you fill out the forms showing that you are making efforts to find a job? Once you are not filling the forms out, how would the employment offices know anything about your status?
I'm not sure anyone needs the go-go days of the Dot Com era to return as bubbles are never sustainable, but there are real signs that we've reached the other extreme in terms of IT skills being subject to commodity pricing. Troll through the Internet Engineering or similar categories on Craigslist to see how frequently PHP developers are being offered $10-$20/hr. Craigslist represents a wide segment of employer types, many of whom are not traditional in nature, but it's easy to see why IT pros may be discouraged. The economy has magnified this factor, but trends were heading this way even before; given the blind faith placed in offshoring and the growth of the freelance workforce, there is a growing expectation that many services should be obtained on a contract basis at dirt cheap prices. As leaders, we should influence our employers to offer a fair wage and not be exploitative in our hiring practices.