I've only been a hiring manager for a year, and in that time have made three solid hires. In all cases, the interviewing and on-boarding went smoothly.
Now, we're trying to fill a position and every candidate seems to have the same salary requirements, regardless of years on the job. From entry level to 20+ years' worth of experience, the pay range is all within ~$5-$10k across the board. And, with 1 exception, every single salary "requirement" significantly above that of our current staff.
Something else we've noticed is that there seems to be no correlation between ability and salary. We give candidates a test based on a real-world experience for them to work on when they apply, so we know what the correct answers are. And we've been giving the same test for years and have thousands of data points. We've noticed that those individuals who have been doing this for 20 years do about as well as those with very little experience.
The third odd thing I've noticed. When asked why they applied to the position, every one of them, even those who have been unemployed for up to 2 years says that they don't need a job, but they're just "looking around".
I do believe that part of the problem is recruiters. We get some applicants from recruiters who have told us that it's a candidate's market right now. While that may be true, I can't really justify paying someone 20% more than a recent hire doing the same job with less experience and scored higher than an applicant on the exam.