As long as airlines continue to be born and exist, maintain viable business plans, buy airplanes, even form LCC subsidiaries of themselves, there's no pilot shortage.
They exist for one reason: make money.
When we see INDEPENDENTLY VERIFIED news that many airlines are failing and vanishing due to the inability to run a viable business plan because of insufficient levels of "usable" cockpit crew (rather than poor economic environment or inept management), maybe then we can say there's a shortage.
Until then...