Clanger and others who want advice as to how to survive the next couple of years.
As with any life form on the planet it's "Survival of the fittest" or be flexible.
There's a couple of dos and don'ts, some applicable, some impossible.
* Don't p!ss off your instructors or colleagues. No one likes a smart arse.
I've just given two recommendations to friends from ATPL ground school. Why? Because they were social enough to have a drink & a laugh with plus they did well at the exams. (both have held flying jobs but now out of work)
I've survived on colleagues recommendations as well. It doesn't matter what you do, do it well. Aviation is a ridiculously small world.
* Network. Not unlike the above. It's a lot easier these days with Facebook etc. Don't be too snooty with meeting up for a drink in the aero club etc. Also, before sounding off about what a bloody legend you are, know your audience. No one minds being asked a question or two, but be aware of thrusting your CV into the hands of the jet jockey that's having a break/meeting up with friends. Timing is every thing.
* Seek opportunities. Take ground jobs. Find FBOs and learn the environment. FBOs that are handling bizjets etc are a smart move.
I took a night ops job because no one else would. 6 months later, I'm flying.
Washing aircraft impressed another boss, it got me my big start...
* Instructor ratings are useful. You can translate them into being a line trainer in the future etc. Also, gets you in the environment, gaining hours and experience. If you can instruct on a field that also has bizjet traffic, useful.
* computing skills, language skills, customer relation skills. Never wasted.
* engineering skills. Very valuable. (Not a degree, but spannering skills!)
* if you can, move. Whether it be 300 miles or 3,000 miles. Do so. Go and seek those jobs that are there. Bush flying in Africa. Tourist flying in the Caribbean, fish spotting in the North Sea. Go for it.
* Take the first solid job offer. 500 hours in a king air is better than 12 months in a jet hold pool....
* While you have to keep an eye on your exam validity, if you can, delay your IR until there's signs that economy has stopped free falling.
Good luck.