Right? Probably wrong 90% of the time.
Superficial logic says when there are lots of people looking for jobs, it should be easy to find one to do yours, this may be true, but is it the right person for the job???.
A colleague of mine is looking for drivers, there should be plenty around in a downturn, but there are very few to whom he chooses to give the keys of his very expensive trucks, carrying perishable loads. When he finds a good one, the price has not gone down, but his costs in finding him have gone way up, as the volume of unsuitable applicants that need to be culled has increased.
Good times or bad, the greatest challenge is finding the right employee, not the cost of the exercise.