I am pretty new myself, but my opinion is that we are looking at tough times for the next 4-5 years. I think airline staffing levels, experience requirements, etc basically oscillate around an average level. I think what we witnessed over the last couple of years with huge turnover at the regionals, solid growth, etc was merely a spiked deviation from that average. The reality is that many of the pilots getting furloughed were on this upswing and now things are on a down swing, restoring the balance. Minimums will go back up, pilot jobs more competitive, etc. I mean, lets face it, guys in my regional new hire class were hired to fly a 50 pax jet with 300 hours TT. I only had 750 TT, still probably a bit too low, but I certainly didn't complain. I was able to take advantage of it and even though my furlough notice is probably on its way in a few months, I was able to get about 900 (possibly 1000 hours) hours of jet time out of the deal.
One thing is for certain, the airlines will never go away. The national infrastructure is too reliant on them. This is just another storm before the ensuing calm.
One of the most comforting things for me is to know that if I want to do this (still debating honestly) for the rest of my career, I will be given the chance at some point. The only unknown is when that chance will come.
If you have to do something else, non aviation related, thats OK. Have a good time, make money, enjoy being at home, etc. Then, catch it on the upswing - because it will come as surely as the sun will rise tomorrow morning.