Possibly 25ish years ago read an article ( too long ago to recall which magazine) forecasting a pilot shortage. This was based on lowering requirements for employment with a major airline. From 1000 hrs PIC to 800 with 500 being looked at. The major concern here was safety. Where once experience was gained on regionals with a history of having pilots for x amount of time before departing said regional. The lowering of hours meant less experience. Not an overt issue with the majors having experience in the cockpit to train the newbies but an issue with the regionals which would eventually impact all. Ollie is right. 9/11 stalled that issue as did the GFC etc. The expanding industry caused that issue. Now it may well be an expanding industry again but there can be little doubt that the desirability for a career as a pilot has diminished as well. Pherhaps more attractive package's may help correct that.