agree with david- lots of jobs out there but there are some metropolitan areas(especially where there are lots of pa programs) that are a tight market(ny city, pennsylvania, the bay area/san francisco, los angeles). it isn't that there are no jobs there it's just that the new grad either takes a lower paying job than they might have otherwise or the job they really want is taken by a guy with 10 yrs of experience who wants the same job.
in my area there are 3 local pa programs. anyone who wants a pa job in the area can find one at a reasonable salary but not always in the specialty they want.
for new grads the rule of thumb tends to be this:
salary,specialty,location
pick 2
once you have some experience you can get all 3 but hard to do right out of school. I opted for location(my wife was in grad school) and specialty (em) with a low to reasonable salary.
now I have all 3, but it took a while.