Anyone else noticing more internal transfers than external hiring?

Been keeping an eye on openings and internal mobility lately, and it feels like there's a significant shift. We're seeing a lot more folks moving between departments, but the external job board seems pretty stagnant compared to, say, six months ago. Is this just my perception, or is there a broader trend of prioritizing internal talent development over bringing in new blood? Could be a cost-saving measure, or maybe a strategic move to retain institutional knowledge. Curious to hear if others have observed this or have any insights into what might be driving this. Are performance reviews looking particularly good, or is this more about belt-tightening and avoiding recruitment costs? Wondering if this is a precursor to anything bigger down the line. Feels like a cautious approach, for sure.