Im currently a student at the prescott AZ campus and am friends with some instructors at ERAU. They told me that they have STOPPED hiring indefinately, alot of former instructors are coming back from the commuters because of the slow down. They need 90 instructors, now they have 125. This all hear say but you can still email them your resume. Hope this helps you out. Its going to be awhile before things get back to normal.
The CFI program is quick and fast at FSI if you go be prepared to study hard, especially if you didn't get your other ratings at FSI, you really have to know almost everything. The flying is not that difficult but you have to be able to teach and give solid presentations on all manner of avaition subjects, remember the guy you are practice teaching will probablly have 10,000 hours dual given. Over all no complaints, I do feel prepared to instruct and yeah the program is on the pricey side.