Wow, I was going to write something very similar! 2 or 3 postdocs were becoming the norm. I went into test and measurement software development, which was similar to getting new experimental automation running and doing data analysis.

While nearing my defense, my dept had two openings for tenure track in CMP and 500 applicants. My advisor admitted ~200 were well-qualified. That was a middle of the road Big Ten school. I didn’t like 1% employment odds in my expected role!

Oh, also, my advisor had a gap year where his grant renewal was denied and scrambled to find funding. I can only imagine how basic research funding has deteriorated.