Jobs in the aviation world have all but dried up. There are a few jobs, mainly contract which require type ratings and experience, but these are getting fewer. There is no doubt that this recession is deep and it's going to take a while to get out of it.
I left in 2001, just before 9/11. I had the dubious honour of being told I was redundant before I had even left the RAF! My new employer (Virgin) had a knee jerk reaction and sacked about 35% of the pilots. But they had gone too far, as the effect of 9/11 was not as bad as anyone feared. In fact, they realised and tried to get some to return, but were suprised to find a lot didn't want to come back. It turns out my job was safe and I took voluntary redundancy, because I had been offered a more promising job.
This situation is very different. 9/11 was about a lack of confidence. This is now a lack of confidence and a severe lack of cash. Actually, 9/11 wasn't so bad partly because of the increased movement of money thanks to a de-regulation of banking suystems put in place to make post 9/11 more palatable. That's what we're paying for now!
Business isn't flying because business is in recession. People aren't flying because they can't afford to. Will it ever recover to previously seen levels? I doubt it. For the last seven years we have been spending money that didn't exist. And when the books are finally balanced, there won't be the money available thet there was. Taxes will be higher to pay for the bank bailouts, the oil price will shoot up when a demand is percieved (people will want to get into commodities as speculation on equities will take longer to recover) and the holidaying public will be in negative equity on thier houses.
A gloomy picture, but leaving now and competing with other pilots who have more hours, typr ratings and experience on type would be a very brave move. And if you are lucky to get a job, you wouldn't feel too secure being on the bottom of any company's seniority list.