The term pilot shortage has to be re-defined. The term nursing shortage is common here in Canada. The government can easily tell the demographics of the nursing proffession by the number of people training to be nurses. The prediction as it stands:shortages of a critical level in the near future.
Shortage of pilots??? I don't think so. There may be a "lack of surplus" in the next ten years. The fact of the matter the baby boom generation is starting to retire. A friend of mine who flys for Air Canada says that the airline will essentially replace it's entire current roster of pilot's (3000) over the next 10-15 years. This is common with many airlines worldwide. Compare this to the 80's and early 90's when there was almost ZERO movement, things will be good. Ironically the lack of hiring in the 80's etc. is the main cause of the demographic shift.
What does this mean? More jobs in the future for aspiring airline pilots. Probably depending on the carrier you end up with, a much shorter time to the left seat than days of past.
My two cents, as much as they are worth.