This isn't anything new. This exact same thing happened during the 2000-era dot-com bubble burst. There was a huge hiring freeze across all tech companies, yet

This isn't anything new. This exact same thing happened during the 2000-era dot-com bubble burst. There was a huge hiring freeze across all tech companies, yet somehow they were still posting job ads, but nobody was hiring. I even moved cities to work at a job where 10 of my friends worked (including the CEO as a good friend), and when I went in for the "interview" (the job was supposedly guaranteed) the CEO said he couldn't hire me because of a hiring freeze. I ended up freelancing for the company on-and-off for a couple of years, but it was barely enough to keep me fed. There was no other work anywhere. It was a rough 4 years, and we're going through the same thing now and have been for a while. I'm glad that this time I have a bit of job security, but I feel sorry for those that don't. I tried to warn everyone I could a few years ago that if they had a job, even if they didn't like it, they should consider staying because it's going to get rough. People laughed at me for suggesting this, but now nobody is laughing.