tsunami? pretty much, in the past decade, many med schools have been established (UWS, ANU, deakin et al) and many med schools have dramatically increased their intake in order to fulfill the doctor shortage. it was a very short sighted view by the government who thought that more med schools=more doctors which is only the case to an extent.
they are pumping out so many graduates now that its almost impossible for the system to offer them all training spots so what you will end up with is a bottle neck where hundreds of junior doctors have to join a long queue for training places into the various specialties. theres now even the problem where graduates have trouble finding internships (1st year out of uni). the problem will only get worse. there are a few states in particular where the problem is already emerging.