If I see young pilots fresh from flying school actually PAYING some airlines for the privilege of being copilot on an airliner, this means that there is an excess supply of, at least young, pilots (experienced captains might be a differerent matter).
Concerning F/As, I think the situation is even worse, with the reduction of traing requirements to a bare minimum and a ready supply of young women willing to work under lousy conditions in this "glamourous" profession.
IMO, the only ones who realistically have a chance to find new employment fast (though with cutbacks and most likely with being forced to move) are those engineers, who have proven that they do good work (not the lazy ones), due to the current European shortage of licenced aircraft maintenance staff.