Yeah things are going to slow down this year and '09, personally I think is going to be even slower. Things are going to stagnate at the majors and attrition at regionals is going to slowly come to a stop (or very little movement). Attrition is already slowing down, even at PNCL where the attrition was crazy last year. Also with fuel prices, regionals are going to make some fleet adjustments for the next few years, they're going to start replacing 50 seaters with 70-100 seaters (much sooner than they thought) to make a profit. That could mean more capacity per airplane but fewer airplanes= less pilot jobs. On top of this, this could be a longer than usual economic recesion. Historically recesions last for about 36 months, some experts say that this one could last 4-5 years. (knock on wood).
Anyways, that's what I see is happening, hopefully I'm wrong, but if you ask pilots that've been in this industry for years, they propably going to tell you something similar.