I actually got into aviation in the mid 80's..... You are correct that during down times finding a job is tough at best. When I was hired at a regional the hiring mins were 2500TT 500ME, some got in with less but not many. Upgrade was normally 3-6 years depending upon who you worked for. Then as you state between furloughing airlines plus airlines going out of business jobs were scarce and upgrades non-existent. Pay was where it has always been for a regional, in the gutter!

When I finally hired on with NWA the average guy in my class had over 11,000TT and 3 type ratings. All had thousands of hours of PICS..... The road in the profession can be tough. There are those that land on a smooth path and have great transitions in their careers, while others can't seem to catch a break. Most of this is nothing more than dedication and timing.