It's definitely a myth. There may be a lot of companies with job postings and interviewing, but not a lot of hiring. Sure, HN posters will tell you all about the mythical "shortage of engineers" and how everyone is hiring. Also, everyone on HN has $200K salaries, can get their next job in 1-2 days max, and has a supermodel girlfriend. In reality, the hiring market really just doesn't seem to be that healthy. Still much better than the market for textile or factory workers, but not great.