An analysis of IT jobs shows that companies are less willing to pay a premium for specialists. Companies are searching for people who have business skills, multiple talents... a balanced professional who can make projects happen.
To quote David Foote, "They're looking for walking Swiss Army Knives."
The emergance of Agile as a development approach may have something to do with this shift in thinking. Agile teams are composed of people with cross-functional skills, allowing the team to deliver working software every two weeks.