I am an LVN. These answers are based on my experience.
1. Labor market demand: Fair. Better for those who have experience, you might have to relocate to find a job.
2. Some employers will hire somebody right out of school with the only consideration being that their license is in good standing. Others look for experience, especially for specialty jobs. The more experience a nurse has, the better chance of getting hired. All want the minimum education, e.g. graduation from practical nursing program.
3. In my area, the pay is pretty much the same for one year and five years out. The average is $18-$20 an hour. Many employers are lowering their pay rates to $15-$17 an hour.
Hope this helps.