It's just that it's a leaky bucket and a LOT of new jobseekers have been poured in at the top, certainly in a few locations. It will take some time for them to all get processed. But we'll be back to an empty bucket soon.
Third, education has gotten a lot worse. I find it baffling but Germany is producing less software engineers than they were 10 years ago. It's absurd, but true. Yet the need for software engineers hasn't gone down one bit.
Plus, all of Europe is turning racist more and more and more. And one slight advantage of that is the decreased mobility. Please take note where you are in Europe, because moving is rapidly becoming a harder and harder. BUT this does mean competition for jobs is going down a lot. But if you're looking to move somewhere, now's the time, for you might not have the opportunity in 10 years. Hell, I'm starting to wonder if there are going to be limits on moving back soon.