Cliff, there is not yet a pilot shortage. At the piece of crap 1 1/2 airplane overseas outfit where I work are 4 Americans who would love to come back to the US. Problem is we are all late forties and older, 3 are captains, I am an f/o. The captains don't want to start out again as a first officer. All of us are trying to get some form of retirement income and as an f/o at any US airline that will be impossible. Same goes for many other US captains flying at foreign airlines.
Once you pass a certain age (around 45-50) and your company bites the dust there are not many options in the US, going overseas is the only way. I know many US pilots working in the Middle East and Asia, most of them would love to come back. A 12000 hr B744 captain I know just went to a regional so he could be home more.
I have been applying at Atlas for ages. I finally have had 2 phone interviews. The first one I had not flown in a while, so I was advised to get some hours and try a year later, then I had worked for too many companies. Yes, my resume looks like a graveyard of failed airlines. Flown widebody for 12 years, the whale for 4 years now, been all over the globe, dodged the bullet in Afghanistan. And can't even get an interview.
Atlas would be perfect for me. I live where there is a base, a 15 minute ride to work. My family can deal with me being gone for 3 weeks, which is half of what I do now for less time off. I would be happy, wife and kids be happy --> Atlas be happy. I would stay until I retire.