You are right about aviation industry.
Also the situation is bad at the moment in Europe. Several European companies are in serious financial difficulties. The current high oil prices are the main culprit. Even instructing is not obvious in Europe at the moment for various reasons.
JAR is a also a total mess.
As for racial prejudice, i will admit it exists because i know some cases. In the US it could play in your favour. However in Europe there is not such a thing. Some Armerican consulting companies will however hire blacks but they wont find any place to put them because no client wants them.
The US market is better. The problem in the US is to obtain a green card. Dont have false hopes. For instructing you only need J1, thats not a problem and finding an instructor job is also not a problem in the US. So instruction in the US is definitely an option.
I would like to add that some reputable magazines like FIM or organisations like AOPA run articles about a so-called pilot shortage. This is a scam and i dont know how such organisations may get involved into this.
Obviously turboprops or even multi piston are excellent experience, but it is quite hard to get in Europe since there are not so much low-time jobs in that kind of aircraft.
Also, to tell that 500 hrs are not much is a bit ridiculous since allied airmen flew combat missions on high-perf piston fighters on that time in WWII.