In Europe it is starting already, at least for people with an EASA / JAR 66 licence.
Next year the transitional period, in which the old national licences were still valid will expire and the airlines didn't bother to train enough staff to the new regulations.
Right now, if you have a EASA / JAR 66 B1, B2
or C licence with a type rating on one of the more popular aircraft, like the B737 or A320, there are plenty of jobs. Also Airbus is currently sucking the labour market empty for their production facilities in Toulouse and Hamburg.