There is a shortage - of sorts. A shortage of pilots with 1000s of hrs on type - which a lot of employers seem to want. As they aren't finding these pilots, one can only expect that their minimun requirements will have to decrease if they are going to fill those seats.
India and China are going to need large numbers of pilots soon, so it may have not filtered through to the lower levels of experience yet. One good thing is that the number of companies offering jobs where you have to pay for your own rating are reducing. If pilots stopped taking these jobs they will dissapear altogether!