I attended the AAAAI convention earlier this year and here is there take on the future of A/I. First off it is a very alive field that is making huge advances everyday. Asthma is on the rise, so the role of an Allergist is still an important one.
As far as the job market goes, it is great right now and probably will be for a number of years. This is because it was a largely unpopular field for many years, and many practitioners are now retiring. Pay is good, starting around $140 with the potentional of $250, maybe even $300 (high end) mid career, with fairly normal office hours
It is a very competitive field right now. I believe there are only about 120 spots per year, and there are many more applicants that apply. As far as increasing spots, they are trying to, but even at that it will only be a few spots a year.
For all you aspiring Allergists, the advice that I was given by numerous fellows, and attendings in the field was to abviously do well in school and on your boards, but also get involved in some sort of allergy or immunology research and puplish if you can. Not just papers but abstracts too, just be first or second author. The days of easily getting a fellowship are gone and there are many competitive applicants out there, so try to make yourself standout.
Aside from that good luck and next year's AAAAI meeting is in San Francisco,sometime in march. There is a program you can apply to if you are a student and another program you can apply to if you are a resident that pays all of your expenses (flight, hotel, convention fees, etc.). Look into it next year.