It's a cycle mate heavily influenced by the economy. There has been boom and bust in the global economy for the last century - it's the nature of the way it works! The level of recruitment in the airline industry is very much influenced by the state of the economy. Look at this year, there was Greece, then China now Brazil all of which could have/could snowball into another downturn - nobody knows when the next bust is coming but it is coming eventually. Then airlines get hit hard, as a result recruitment dries up, then things pick up and recruitment picks up - its a cycle like that basically - every private business works the same way. It's too hard to know what it would be like by the time you graduate, if the economy stays good airlines will continue to expand and recruit.
It's also effected by seasonal demand, usually around this time of year and into the winter recruitment picks up a little as airlines want to have pilots in place for next year.
If you are interested in BA they will want to see a strong academic record, there is a lot of sharp people in BA. Going and getting a strong degree, which by the sounds of it you are in a position to acquire, will only help you along the way!
Just my 2 pence.