G Sxty is completely correct. There never was, never will be a shortage of low time pilots. Any 'shortage' such as it exist is in experienced type rated pilots and even then that probably meant you had to move overseas to get the job. So there never is a good or bad time to start training. It's always a gamble, a gamble that pays off eventually for most. If a downturn puts you off being a pilot, maybe you don't really want it enough.
But reading that article, EASA seem intent on creating a pilot shortage with their attempt to Europeanise the training process.
I could forsee a future where there is a low time pilot shortage. When the job becomes so unattractive, the pay so small and the cost of training so prohibitive that even the most dedicated aerosexual will stick to spotting.
