Brad,
Your yellow lines have shit for significance, way too heteroskedastic (I watched Thoma's lecture).
Your chart shows the new way people are hired and employers adjust. The employer sees a sudden resume flow like he has never seen before, so he has a better method to partition the labor market to suit his needs. The better statistic is the distance between the orange lines, that shows the employer partitioning the labor market, having much better resolution to pick of good matches first.
The cost of search has dropped by an order of magnitude, for the same cost an employer can review 10 times the applicants.
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