No pilot shortage.
Their are too many experienced Capts unemployed.
Airlines advertising are very specific on their requirements
600-1000 PIC on type, current flying (not just Sim).
None of these airlines are willing to train you at all (except one maybe).
If there was a shortage they would take these experienced Capts get them current on type, or endorse / train them on a different aircraft type.
Thats not happening.
Every time there is talk of a pilot shortage something global happens, Iraq wars, Oil shortage, Iran, 911, SARS, Bird flu, Recession, Stock market crash, large airlines going into chapter 11 and lays off / furloughs pilots, countries go bust.
At least thats what has happened in my 25 year career and as a result my pay over my career has been relatively low (compared to what I histoircally expected when starting out).
Low cost carriers, what a joke, that just means pay all your staff less for doing the same job. (ceos excepted of coarse).
Im still waitng for the pilot shortage that will give me a reasonable pay for reasonable hours worked and job security.
Then I may be treated as a professional pilot and not someone management begrudgingly have to pay a small salary to. (compared to their salary)
If your waiting for that elusive pilot shortage, you may well be dissappointed, I know I am.