Though significant restrictions on supply do exist, the problem does not seem to be nearly as bad in Australia as in the USA [1]. In Australia there's ~15 medical graduates per 100k vs ~8 in USA.

The doctors in Australia are still definitely overworked though. A decent number of the people I went to school with became doctors in Australia, and though we work roughly the same number of hours (~60-70hrs/week), my work in the software industry is like a stroll in the park.

It was remarkable to hear my male friends who became doctors admitting that they had broken down crying in meetings with their boss because of workplace stress and exhaustion.

1. https://www.ama.com.au/ama-rounds/13-may-2022/articles/more-...