This topic has been covered several times in pprune. There is a shortage of qualifed pilots, such as Captains, TRE, TRI and defenetly flight instructores. But no shortage of low time first officers. A big shortage in US, Europe, and Australia when it comes to flight instructores, and I mean a big shortage. No FI, no pilots can be produced at the rate it is suppose to. Boeing and Airbus are busy up to their ass to build A320 and B737Ng. So you do the math!!! the demand can not keep up with the suply. It will be interesting to see what really going to happen within few years.