I’ve done some hiring lately as well and we got a ridiculous number of applications, like 500+ for a run-of-the-mill developer job.
I’ve worked in tech for 20+ years and I’ve never seen it like this. Sure there are job openings, but sooo many applicants it seems.
(This is Sweden, YMMV.)
I would wager that most of them are AI generated. The cost of generating a neat looking LaTeX resume and adding vibe-projects to one's GitHub is very low...