We need to take this on board also. As it has been the biggest downturn in recent memory then that will turn into the biggest pilot shortage, possibly ever, in a few years.
Of the crews who have lost their jobs in the last year or so I would guess 20 to 30% will never return to flying. This estimate will increase at an alarming rate every year this state of affairs continues. Most prospective ab initio students will not be trained to take the place of retirees and the the above losses, in this present climate.
Biggest bust, now wait for the biggest boom?
If so, you may find a lot of employers having to bankroll cadet-ships, let alone TR's.