Seems like it was true in your case given that all you had to do was look in NYC, where you found a new job almost immediately.
Random anecdote: One thing I remember moving from SF to NYC (in that era): Instantly lower quality of life. I know, I know, that was a long time ago! The weather in NYC is awful compared to SF. I could walk to supermarket without a coat for 11 months a year. And no endless police & ambulance sirens or loud garbage trucks! And housing was more expensive and much lower quality.