The economy continues to be stubborn and resist movement out of recession. But in my opinion, stamp collectors are still going fairly strong. Yes, prices have declined a little. And not everyone can afford to pay their club dues. However, I think the state of the hobby is doing better overall than the general state of the economy.
I am still reminded of the story of Pat Herst. He went into the stamp business in the 1930s during the height of the Great Depression. He went on to become one of the most successful and well known dealers of all time. The current recession is not as bad as the Great Depression. If the hobby survived back then, it will survive today.