The cost of living has significantly outpaced salary growth. And given how quick companies are to do layoffs, even when things are going well; makes people a little less confident in a job switch. And that doesn't even account for the current state of the market which is brutal. I saw a thing the other day that said people can't even really budget for groceries because the costs are changing drastically week to week. You arent going to get a new job and feel the effects of (hopefully) the larger paycheck as quick as prices can and will change currently.