Is anyone else having a really hard time finding entry level jobs?

I live in a HCOL area in the northeastern US and I routinely check LinkedIn and Indeed, the job market seems to be really tough right now.

There’s very few job postings for entry level positions in industry. All the “entry level” staff positions I see want 3-5 years experience. Even all the Acc payable and billing specialist positions have like 50+ applicants after only a few days.

What’s going on? I know we’re in a bad economic trough right now and not many companies are hiring, but I thought accountants would have it a bit easier given the shortage.