I would assume that any airline will require 1500 hours in three years or so since congress is making it a requirement that FO's have ATP's.
Probably safe to assume that you will have to work as a CFI to build hours.
The industry will probably rebound after 2012, but then again it may be on a permanent decline. Oil prices and/or rampant environmentalism could spell the end of the airline industry as we know it.
For these reasons an aviation major is the worst possible idea. Go to a state school and get a degree in something useful. Learn to fly at your local FBO while going to school, and if the industry looks good in a few years have a go at it. But make sure you have a fallback position...your generation has more things to worry about than those of us who came before as far as career stability.