There have been many posts on here complaining that "aircraft engineering ain't what it was", but that said it's always been something you have to want to do, and have to be prepared to do what it takes. Positive Mental Attitudes only need apply because it's a small world and employers very quickly know what sort of people will do the best job and work the best with the teams they have. Somebody may be very bright but if their face doesn't fit or they come over as gobby that's it. Way of the world in many industries, not only aviation.
This will not change and may only get harder. Air traffic growth has been driven by the LCCs, and the cost of fuel is a much higher part of their business model than the legacy carriers as their aircraft spend more time in the air with lower corporate overheads. Thus future rises in oil cost will impact their ticket prices hence demand and the size of their fleets. With them being such a large sector this will reduce the size of the world fleet and accelerate the phase-out of older aircraft as the shrinkng number of buyers seek fuel-efficient and maintenance-free new designs.
In the next 10-20 years this industry will be a shadow of its former self. Those with jobs will be the lucky ones, though they may not be well paid as engineers accept lower rates to stay employed. Those wishing to enter the industry will find it very hard indeed.
I don't wish to appear a prophet of doom but that's how I see it. If anyone has a more optimistic view I'd love to hear it.