How's the mechanical engineering job market?

[Suburban]

I got an aircraft engineering technology degree 5 years ago, which I really haven't been able to do anything with. Perhaps my job hunting/interviewing skills were bad, and I might have had better luck if I had been more open to moving to occupied states, states in the snow belt, or states in twister country, but anyway. . .

I'm thinking about going back to school for a mechanical engineering degree, now that I'm facing a lay-off.

What's the job market like?