OF COURSE it's a good time to work on your resume. ULCC are hiring FOs with zero TPIC. The legacy carriers are retiring record numbers of people, a number that will continue to increase for the next 4-5 years.
Even if all you ever aspired to was to be a regional lifer, you better be looking because the regionals are all having trouble with staffing and having a great schedule always requires junior people to have the cr@p schedule, and those are getting fewer and far less qualified. Consolidation is coming, including higher capacity aircraft in markets that will support them. Retiring based at your current domicile or flying the same old aircraft or with your regional airline seniority may not be an option.