I think there is a pilot surplus, but a reduction in the amount of pilots who will do the job for postman wages. I am sure that the pay will come back a little but there is an ever constant ratcheting trend downward.

There is a current shortage of carpenters right now as well, but as soon as the pay bumps up a dollar or two an hour applicants suddenly appear. Pilots however seem to adapt to lower expectations and are soon eager to get back flying at the lessor amount.

SkyHigh