When is it the right time to train ?
Answer - when it is the right time for you personally.
I am currently doing CPL/IR and I chose now for the simple reason that it was the right time for me in my life. For the past 20 years, the time has not been right for me due to family and financial commitments. It did not matter that there was a shortage of pilots in the last few years as I could not take time out to train for the qualifications. If I wait for the current downturn to run its course, then I might not be in a position to train later due to work commitments etc. So, what the industry does actually comes second in my opinion to what position you have in your personal life. Get the qualification, then it is a case of wait and see (if you can afford to do it that way of course).
This view is more relevant to the mature candidate with financial and family commitments rather than someone straight out of school etc.
Just my view - the hardest thing for me was finding the right time to actually do the training.
GSS