Is that leaving much in the way of demand for more pilots?
That's a fair comment I would say. Also, the airlines are being picky. Ex. need to be college graduate, must post a bond if you trained overseas just in case you leave but if you are a local who has never left the country, you are excluded, must know someone from the inside to push your application, and if you are unlucky enough to get hired by any of the LCCs, you get paid peanuts, pay a bond and get retrenched after 6 months or get demoted from flying a 737 down to a Dash 8 or from a BAE146 down to a chinese made MA60. And so on. Then you have to put up with government inefficiencies and beaureacracies regarding license conversions and renewals. In short, you get frustrated and will decide to leave.