The schools have kept churning out FI's with no work and now we have a massive glut of unemployable people out there.
Which is what I've been telling people would happen for several years now.
The 'hours building' and self-funded TR route to the RHS of a people-tube has simply GOT to stop. If the airlines want pilots, they must become involved in the selection and training process right from the start; perhaps with the advent of the MPL this is becoming more probable.
It would seem that some EC nations aren't happy with the idea of the remunerated PPL/FI, so watch this space.
I'm wholly opposed to the concept of a profession which relies upon its least experienced wet-behind-the-ears members to teach essential skills to newcomers - what other profession does this? Can you imagine the furore if hospitals relied on just-graduated doctors to teach trainee doctors, for example?