If I was to bet, it seems that tasks that were given to new hires are now done by senior engineers and a prompt.
A collegue claims that the difference between an MBA and a mediocre compsci grad have disappeared due to vibe coding, so the compscis grads feel the job market is tougher because of increased competition.
All I know is that it's super hard to get junior devs to not be junior anymore because they don't have the opportunity anymore to learn on easy tasks.