1. Layoffs happening regularly.
2. Less Senior positions and virtually no junior jobs.
2. AI accelerating and reducing the number of software engineers.
3. Job postings being reposted with less salary and equity in US, EU and especially the UK.
You might as well take yourself off the job market / stay in current job, build a paying SMB company or side project on the side and make that your third income.
If it gets better and reaches sustainability you can choose to leave your job and live off it, or choose to get funding if need be.
After applying for over 60+ jobs after graduation and getting rejected over and over, I took myself off the market and started a pest control SaaS 4 years ago now it's bringing in over $2.2M+ ARR.
While the jobs I was applying for have now either shut down or not even bringing in anything over $100K ARR.