Don't wanna get into politics (except to say that I'm with Wirblesturm on this one - we are picking up the pieces of the last lot - although unfortunately we haven't got a good enough government to a) find all the pieces and b) put them back together).
HOWEVER I beleive the BA anouncement is a bit of a smokescreen - the numbers have changed from 800 to 400 but I can't see that effecting anyone who is currently in the pipeline, maybe it will just mean a slow down in the future requirements a year or so down the line.
It finally looks like the Euro crisis is gettnig some attention. (I can't see them resolvnig it but at least they've finally reallised what the fundamental issue is) so maybe the markets will give them some slack to solve their problems.which will be very good news for the airline industry as so much of our custom is based on perceptions and confidence about the futre rather than raw economic reality.
I beleive the announcements from BA, Virgin, ezy and from IATA today are some very public lobbying to get the UK government to realise what damage they are doing by restricting air travel in the UK, as oposed to any fundamental overnight shift. As such I can't see suddenly crashing recruitment to a halt. And remember the 55 year old non-retirees are now 61 so in 4 years the significant retirment numbers will start again and will probably start ramping up from now as medical issues, part time, pension issues etc start making their effects felt.
I was in the 2008 hold pool, so I know what its like to sit on the sidelines and hope for things to happen, but I don't think that some of the knee-jerk panic is really warranted.