the top % of talent is still extremely hard to get, perhaps moreso
saw an article recently where every sector is seeing a reduction in IT/devs except for tech and ai companies
if your company is in a sector where eng is a cost-center and the product is not directly tied to your engineers / your company is pushing for efficiency it's an employer's market
I don't think it makes sense to consider top % of the talent - relative to the total amount of engineers I imagine it would be minuscule.
It's the rest who will have to deal with shrinking number of positions, higher competition and possibly decrease in compensation due to said competition.
saw an article recently where every sector is seeing a reduction in IT/devs except for tech and ai companies
if your company is in a sector where eng is a cost-center and the product is not directly tied to your engineers / your company is pushing for efficiency it's an employer's market