I have also seen the tide turning in regards to the "nursing shortage." It's been interesting. What is happening, at least in some parts of the country, is that experienced nurses who were retired are coming out of retirement and re-entering nursing. This has changed the dynamics for new graduate nurses getting hired. Most facilities would prefer to hire an experience RN who has gone through refresher training than a new grad because of the monetary investment in hiring new grads. Additionally, trends are showing that new grads are only staying in the field for 1-2 years and are then leaving the acute care setting. So, financially, it makes sense to hire the experienced nurse.
In regards to faculty...across the board, faculty are approaching retirement. Colleges (whether public or private) are finding it difficult to recruit new faculty because of the salary. Nurses are nurses first, then educators. It is shocking to go from working 3-12 hour shifts, getting paid for all of your time, to working 5 days a week on a salary, which doesn't capture overtime, missed lunches, weekend time and time spent at home working. It is not appealing to nurses, nor is it necessarily financially possible, to take a pay cut such as what typically occurs in nursing education. Now, educators who work for hospitals make very good money. But to strictly work in the world of academia, plan on taking a pay cut.