It took one year to find a replacement for a colleague who left the company. He was a senior in his field.

This is because there isn't a job shortage. It's offshoring. The company I (thankfully willingly) left 2 years ago has shifted all of their software hiring to Europe. And since I left has had multiple US focused layoffs. All while the Euro listings keep popping up. And I get it, the cost of living is much lower and the skill set is equivalent. So yea, get your bank. But, this is companies exploiting Europe/Asia, rather than it being something Europe/Asia is immune to.

I haven't been actively job searching lately, but based on the recruiters cold contacting me about job offers I'd say no, I don't recognize this at all.

Europe has a much more stable job market, stricter rules for hiring / firing.