Absolutely. In 25 yrs I've watched the "need" for engineers cycle a dozen times, each time with new techs/engineers screaming that there's either no jobs for them, or coming out of school highly specialized in only one aspect of electronics laughing at the rest of us they expect to replace. Remember the glut of "IT Professionals" earning incredibly high pay that laughed at the rest of us? Well, now they make less than most good engineers because they flooded their field. Specialists only last at a specialized company and are pretty much unemployable anywhere else.
And those of us who have specialized in NOT specializing by keeping our knowledge base wide, staying practiced in many disciplines always have work....always.