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I disagree. Even if you are fellowship trained (and I am) the market is still really bad. All you have to do is look at gasworks to know that there are no jobs out there. Many of the locum jobs are drying up. Even when you call the recruiters, most of them have hardly anything. Most of the academic centers are in hiring freezes. I am not even going to talk about the private practice market. I am not being doom and gloom. I am talking about reality here.
Always room at the top end of the ladder according to my sources. If you are well-trained, learn the latest technology and techniques, stay ahead in the field, there will always be a place to work in this field. Time changes everything. 1995 was the nadir. Jobs were tight in 93-94 but people still got them. Many ran away from anesthesia for fear of no jobs (or not their perfect job) but then it really opened up again. If you want to do it and you're good, nothing can stand in your way. Time will heal the discrepancies. Future is what you make of it...
It is indeed cyclical - it always has been. In the early 90's, newly-minted anesthesiologists were taking jobs as "associates" with no partner track offered whatsoever. A few years later, they were partners anyway. Certainly prime locations or premier practices may indeed be full, or simply much more selective. That's cyclical as well. Supply and demand boys and girls, supply and demand. Who knows what Obama will bring? Obviously there will be change, but who knows what that change will be? People still need medical care and someone to provide it. People won't consider providing that care or entering into the profession at all if they can't be compensated at a reasonable level to support a practice with overhead (including malpractice premiums) as well as the educational costs involved with getting there in the first place.
And please - if you depend on gasworks as your guide, you deserve what you get. The same with recruiters. Old school job searching is still the rule and the best way to get your foot in the door - get a nice resume and cover letter made up, send it, follow up. Where do you send it? Anywhere and everywhere you want - copies and stamps are CHEAP. If you're too lazy to do some legwork for your own career, why would a group want to consider you? I know that's the way my group looks at it for both anesthesiologists and anesthetists. Recruiters need not call. No ads in gaswork. Have the initiative to do it yourself. The guy who's too busy but still gets it done will get the job before someone who's too busy and tries to let someone else do it for him.