The collapse many candidates expected never arrived. Nor did the recovery many hoped for. What's happened instead is that hiring has become more selective. Employers are still spending on cloud, security and platform capability, but the bar for what counts as a credible candidate has risen across almost every job family we track.
Two shifts sit underneath the headline. The cyber shortage has moved up the ladder, away from entry-level analyst seats and toward people who can run an incident, harden a cloud estate, or take ownership of a control framework end to end. And architecture interview loops appear to have hardened, with operating history weighted more heavily as a filter, often at mid-career.
The story being told to career changers and graduates has not caught up with either shift.