I recognize that this is a genre that is a bit tired, and arguably in poor taste, but the commentary on the HEP theory postdoc job market in the video Hitler doesn’t get a postdoc in High Energy Theory is insightful. As far as I can tell the HEP Theory postdoc/junior faculty market has been the same for the last 45 years or so: far more people than jobs, and if you want one you better be working on one of a small number of “hot” topics. One might speculate that this correlates with the lack of progress in the field during this time. I’m a bit better informed about the mathematics job market for fresh PhDs, which is much healthier, as is the intellectual state of the field.
A recent trend does seem to be fewer jobs in the US, more in Europe. Anyone with better information about what is going on is encouraged to comment here (and, condolences if this is because you’re on the market).