Anyone reading or contributing to this thread who is trying to pursue themselves that the industry is on the rebound is living in cloud cuckoo land.
We've seen today another carrier has gone down with probably more to follow as the down period starts in the coming months for the European winter period.
In the UK we have Virgin shedding pilots, BA look like they may do shortly and some of the UK Charters don't look too rosy. These carriers probably won't be the place where most wannabes get their 1st wings, but experienced pilots tend to be given first place in the cue when airlines are hiring.
For recent historical perspective, after 9-11 the airline industry was in turmoil, it took a good 2 or more years before the upturn happened. This was against the background of a strong world economy.
Now isn't a good time to start training, but I would venture a year or so may be optimal timing.