>>1870221 is the correct answer to >>1869241The 1500 hour rule has allowed American pilot unions to create massive gains for their pilot groups in terms of pay, benefits and quality of life. It sucks for people who are still at the bottom of the ladder and don't have the hours, but in the end the benefits and payoff are huge.
Contrary to what
>>1870168 said, this is not the case at all in Canada. A 250 hour CPL holder with a Multi-Engine Instrument rating can absolutely sit right seat on any airliner with an appropriate type rating, and this is why the 1500 hour rule benefits American pilots immensely.
To see what I mean, simply compare American regional airline pay scales to those in Canada. Jazz, the feeder for the Canada's flag carrier, is the lowest paid regional airline in North America and Europe, with crap benefits and working conditions, and some of the most expensive benefit premiums in the industry. First officers can expect to live out of Toronto or Vancouver, the two most expensive cities to live in the whole country. Starting pay hovers around $37k plus per diems. You basically have to pick up overtime to make enough money just to make ends meet.
Having said that, airlines are generally not adventurous enough to hire 250 hour wonders right out of school; they just don't have the knowledge and skill to be successful in training, on aggregate. 750 is the lowest most employers seem to be willing to go, and given that extra training is expensive, it probably won't drop too much further than that. 1500hr CFIs are in some cases still not being called for interviews.
The only examples I know of where 250hr FOs have been hired to the big leagues in Canada (aka Jazz, etc) is through cadet programs with partnership schools. Those guys tend to do fairly well since they have the additional background and training the airline wants, but a lot tend to run into problems getting PIC time for their ATPLs.