G SXTY,
I completely agree with you that recruitment will be a lot slower than it has been. I also feel that people starting training now should strongly consider keeping a full time job and going modular rather than putting all their egg's into one basket.
I just find a lot of people who post on this site tend to look on the dark side of life (not all but quite a few). The way people talk is like there is no industry any more! I flew from Gatwick this month....Didn't appear any busier or quieter than before. People will still retire and move on. There will always be some demand for new pilots even if it is slower than the previous years.
Yes it will take longer to get a job but I think comments like 'no low hour pilots will be recruited for 5 years' won't help either!