Uniformly terrible.
I started looking casually for a new position last July, then in earnest last October, and then my previous contract ended in middle of February and I "lucked" into a new contract in middle of March. ("Lucked" because I was contacted out of the blue by a good recruiter for a good firm, but also that contact was somewhat the result of a lot of prep work I had done.)
I'm a generalist developer with small-firm management experience, 45, still picking up new stuff all the time despite working in tech for over 20 years, and with some decent extracurriculars.
I sent out many, many applications. A percentage of them required homework of varying kinds -- tests or generating and filling out a profile that contained all the same data as my resume. Most of those never resulted in an interview, so it was all wasted effort.
I had several promising leads evaporate at some point during the interview process because the company changed their mind about the position. Other interviews never provided any feedback whatsoever.
My current contract is for a firm that needed someone with extensive PHP experience, which I have, but they were a Ruby-only shop and needed to do a technical evaluation on me. So, I spent a week preparing for that interview until I was reasonably comfortable with basic Ruby, only for it never to come up during the interview after all. And, like, these seem to be pretty good people overall -- it's just emblematic of the state of things.
I very, very nearly quit tech to start working towards becoming a personal trainer, and may still do so at the end of this contract. In my view, getting hired right now is in some ways even harder than it was during the dotcom bust of the early 2000s. If you are a specific kind of person -- 20s, maybe some college, and experience at a FAANG, and "senior" or "lead" after just a couple of years in the industry -- then you might have some options.
Hiring processes are fractally broken though. People are getting hired, there are jobs available, but there are also hundreds of applicants for any position within a few hours of the position opening, and because hiring processes are so broken, it's quite hard to stand out as an applicant.