The job market for good software engineers has generally been very tight for employers for the better part of the 20 years I've been in the industry (and I say that having worked for a dot-com through the '00 bubble and for Goldman Sachs through the financial crisis).

Salaries seem to be at an all time high. Lots of jobs and not enough good engineers.

Nothing to be terrified about.

You have a Ph.D.; I think you have a bit more options than some 20-year old that spent too much time doing the same thing for 20 years.