Finished my groundschool in Sept 2006 with four others on my course.
1 Working for Sky Europe now has plenty of jet hours
2 Bonded with Virgin Nigeria
3 & 4 now both accepted into Ryanair
5 me, thumb up butt for too long!!! now looking to complete training.
There are jobs but you have to be flexible, willing to move overseas if needed and cough up for a rating that is in demand!!! 737's I think they are all on.
Even if things do go tits up make sure you are in an employable position when things get better because they always do. Even now there are still plenty of very rich folk wanting to fly around in private jets without the hassle of a major airport!