I would say that there is a kind of shortage. In my previous company in Europe(stable rosters, 5 weeks vacation, no overnights) I could see less candidates coming for the assessments every year. On the other hand, the company never improved their conditions even when the biggest ”hunger” started and I heard some guys rather joined Ryanair for example.
But what definitely got worse was the quality of the candidates. 1st year - everybody was fine with the standard number of sectors in the line training, 2nd year - couple of new colleagues failed the skill test, lot of added sectors in the line training, 3rd year - even morelot added sectors, one guy even fired because he was unable to finish line training...
And if you compare the requirements that some companies posted some 5 years ago with the requirements now you will agree, that they got lower...