My experience is that it's both. Maybe most companies only list jobs in the local papers, or on their websites, or in trade magazines. I dunno. I've applied to many companies via their websites, and gotten nothing. Maybe I need to compile a massive list of buzzwords like core competencies, team player, authentic, synergy, etc and past them in randomly.
I know HR is stupidly picky. Funniest case was when a friend gave my resume to his boss. His boss liked what he saw, and said I should apply to 2-3 positions. I did just that, and got the HR "go to hell" letters a mere 12 hours later.
There are a few places I know of that need really good EE's like RIGHT NOW, and one or two of them are looking for folks that can work remotely (like from home).
The work ranges from some transducer interface electronics design to higher end work, but the need is IMMEDIATE. If you are interested whether it be full time or part time consulting work, send me a PM with an email address, a quick list of EE skill set (eg power electronics, mixed signal, PCB design/layout, high perf digitial, etc.) and ill email you with contact info.
For instance, I could really use a EE who can take the lead (part time, say 10-20hrs a week) on the design of a power receiver for a wireless power application (requires knowledge of how to impedamce match sources, design switched active rectifiers, model and simulate mixers signal hardware, etc). I can supply tools (eg Altium) but the need is within the next few weeks and the pay is EXTREMELY good for the right skill set.
Note: it's NOT software work, though if someone has the above AND knows how to assembly code PIC micro controllers, you would pretty much save a project I'm on.
Right now, our critical path is being delayed by lack of EE support, and we are paying through the nose to outsource it to another company.
I'll make another post in the jobs board as well.