> Yes, you have more people applying for the same jobs

This implies that more people know where to find the job listings and they've become more accessible and available.

When you are comparing online job boards to employment centres and classifieds, they are more accessible and available. Employment centres always involved making a dedicated trip. Newspapers cost money and may involve a dedicated trip to fetch one. Not to mention that plenty of businesses simply didn't advertise jobs in print, particularly entry level jobs. Part of that may have been expectations: people would actually walk into businesses to drop off applications or see if openings are available. Again, it took a lot more effort to find those jobs.

Fun tidbit, I remember visiting Edmonton (Alberta, Canada) in the early 2010's. Boom times for them. It was a bit like walking into a different era with respect to job seeking since many business (again, entry level jobs) were advertising with help wanted signs in their windows.