The only reason a person keeps looking for a flying job at any skill level is because that person doesn't want to do anything else for a career. I personally will not be caught dead in computer class or real estate class because I am thinking about leaving the industry. If my company starts furloughing then I have done enough studies in alcohol research to be an outstanding bartender. I will be a bartender until I am able to get back on my feet with a full time flying job. I still have a few other plan B's and C's, but my point is still made. I love this industry and will stick with it through thick and thin.

As to what the future has to offer. The next few years will be tough no doubt. You must make your decision to stick with the career like you choose a real estate purchase or buying stocks. You must look long term picture to your planned retirement age. If you keep looking at the short sighted picture you will drive yourself mad with all the ups and downs.

The facts are 4,000+ pilots will be hitting the street in the near future maybe some more at a later time if the economy keeps it's nose down attitude. An unknown percentage of pilots will choose to retire between the ages of 60 and 65. That creates a surplus of pilots for 5-10 years. You will probably need to be qualified and current on the Space Shuttle to get a job slinging gear in twin turbo prop. After that Baby Boomers will mostly be retired, most pilot prospects will be turned off by the return on their investment on the cost of flight training in the mean time (why a lot of foreigners come to the states to train). An unknown percentage of furloughed pilots will choose not to return to the industry because they don't like big roller coasters or have found something else that suits there needs. The question of the day is "where do YOU want to be at that point in time?" The next few years are going to be tough on the industry (especially with 500TT), but it won't be impossible to wake up and smile everyday.

Just my take on the situation. SE