A lot depends on what kind of career you would like to have and where you would like to practice. The field, in general, is pretty wide open and there are TONS of jobs out there. To generalize, as you get to the coasts you find the areas are more saturated with psychiatrists. Same goes for bigger cities. But there are still jobs in these areas, you just need to find them and use the right network. If you are planning on practicing in the midwest, for example, perhaps in a medium size city, you will have no problems. However, if you want to be on faculty at UCSF, then there might be a problem. It also helps to train in the state you are interested in practicing in secondary to the benefits of networking. Most states have societies and you'll likely have opportunities to get involved on the state level and make contacts.
You'll need to consider what type of practice you want. If you are interested in an academic career, then you'll need to demonstrate to academic institutions that you will be able to "support your job." By this I mean you'll need to show them you can generate money. This is where it could get sticky. I don't know which program you are at, but a lot of smaller programs do not have as many research opportunities especially if they are not associated with a large academic center. The academic world is also very political and networking is key for finding employment. If you are interested in a clinical practice, then things get much easier and most smaller programs are geared towards training clinical psychiatrists.
Hope that helps...