Don't think its just in tech. My wife is in the pharma industry on the research side. Just couple of years ago, she would have recruiters cold-calling her at least 2-3 times a week. She was part of a mass layoff back in spring,2024 when her entire team got axed. Almost took her 5 months and several rounds of interview before she landed two offers. Her background at one point allowed her to pick and choose were she wanted to work. Now that's not the case anymore. It's an employers market right now. I don't see that changing anytime soon.