Airline cycle
The current downturn is very different from ones in the past. The recession of the early 1990's brought hiring to an abrupt halt for several years and we only had a business slowdown to deal with. This time we have oil, the economy and the age 65 thing. It could be five or more years before hiring really gets going again.
Even when hiring resumes they will most likely not be taking 500 hour pilots anymore. By the time I was able to get on with a regional I was the lowest time guy in class with 3800 hours. It was normal to have high time people fighting over jobs at the regionals until fairly recently.
SkyHigh