I notice that Ryanair are now only recruiting Cadets and Captains - no 'experienced' first officers according to their website.
I think this is another key difference to this downturn, when compared to others. In the past, experienced guys got taken on, over and above inexperience. Now, this has only to do with the economic benefits of taking on cadets which start at little, or no salary for 6-12 months.
This may be great news for some, but it signifies a really worrying trend for those looking at aviation as a 'career'.