I suspect it has spam as they've been talking about the 10-12 joining next year for quite some time so I rekkon they've already been selected, vetted and signed on for next spring, hence no obvious recruitment.
But, Monarch is down one aircraft from summer 08 and the existing crews were very stretched this summer, there is no doubt that there aren't really enough pilots to fill the program, there have been a record number of day off payments this year and no end of flights in the peak weeks weren't crewed till the 11th hour. I think the company are waiting to see what the bookings look like for next year before they decide whether they need the 31st aircraft back on the fleet and the pilots to fly it.
I don't think i'd be shot down by anyone for saying that Monarch will never lead the way in preparing for an upturn, they will only react to it. It is coming however and there will be a requirement for new blood, it was not that long ago that they were taking guys with 600 hours on a dash 8, so even if you're not type rated on the 320, don't worry times will change.