The job market is cyclical, it usually tips in favor of either job seekers or employers, and is rarely in balance. Job markets are also quite local - unemployment rates vary widely between cities.
Remember Washington’s late 1990s dot-com bubble? Bring your dog to work? Foosball tables? Dreams of retiring young and buying an island with your stock options? Yeah, that was a "Candidate Market." Job seekers could be very choosy, and great people almost always had multiple job offers. Back then, most government contractors were crying for people and simply could not find the employees they needed at a salary they could afford to pay.