Yes, it has for a very long time I just got the memo too late.
I will focus on making small startups(will clamor around for ideas since I'm not very creative) since getting a job is ALMOST impossible. I've GitHub projects, degree, don't expect anything crazy since COL is low in EE but it feels like unless you are Jeff Dean nowadays is auto-rejection.
Very low number of callbacks. I do have a multi-year gap since graduation which I know it impacts but this market is INSANE and has been for years.
For comparison, just with HS degree while in uni, I had more callbacks for orders of magnitude better companies than I do now. It's like instead of progressing my career prospects have winded down. Crazy times.