As with the banking and finance industries, we have all been conned. Industry has allowed itself to be hijacked in thinking by the bean counters to suggest there can be a continued reduction in the price per seat per mile, to attract more people onto planes, and hence make more money. Industry doesn't have to sell ridiculously cheap fares at a continuous rate, but chooses to do so. It then looks to compensate itself in the process through wages and conditions. That's not to say that in all circumstances there were not areas that wages or conditions could or should not have been looked at, but only if senior managment had the same microscope applied.
Funny how it's a one way looking glass.
The day is coming my friends but let us not get too carried away with wages growth here in Oz. There is a disparity (IMHO) between a S.O getting $180K on an A380 and an FO on a REgional getting $45K, and working his arse off in VERY demanding conditions. When it all does turn around we as professional aircrew should look at this with a big picture in mind. We will all be happier in the end, and our industry happier and healthier place to work, if we all get a reasonable remuneration for our skills base. We must make some gains for the lowest paid, but keep in mind that some are already pretty well off.
Just my 2 cents worth