Employers are afraid to take new hires in unprecedented and unpredictable times. It's not going to get better until the daily news becomes boring again.
I think what makes this better is the emergence of new competitive business areas. E.g. AI companies are fighting for talent because they want to grow fast and beat the competition. Established companies sitting on a revenue stream and piles of cash without a good idea of where to go don't need more people. It's companies chasing growth that hire like there's no tomorrow.