A little different perspective here. Back in '91-'92 all of my buddies were getting hired, many, if not most, by AA, with DAL second (a couple got "stuck" going to FedEx and UPS in '90... luck is everything). In the meantime, I had been selected for TAR (now FTS) in '90. Since the airlines were hiring gangbusters, I made a half hearted attempt to get out of my commitment, which thankfully failed. In '92 DAL told guys who had class dates not to bother showing up and AA furloughed in '93, which lasted until a '96 recall. I would have been one of those furloughed if I hadn't been stuck with my mil commitment. I was lucky and had a job until the airlines began hiring in the mid to late '90s.

I don't want to go doom and gloom, but carriers are beginning to defer orders and PRASM is down across the board. I think we'll still hire to replace retirements, but UAL Manpower Planning has already cut next year's hiring projections (we're still doing significant hiring). I think (hope) this is likely more a hiccup than what happened in the early '90s and 2000's, but beware.