Layoff Spillover: Lingering effects of recent layoffs from overhiring during the pandemic have flooded the job market with competitive talent, making it harder for job seekers to stand out.
AI Impact: The prevalence of AI in resume screening has made it more challenging for applicants to differentiate themselves, leveling the playing field and intensifying competition.
Market Re-correction: Shifting from an employee's to an employer's market post-COVID-19, companies are becoming more selective in their hiring processes, contributing to longer job search timelines for many.