Firstly, the myth that "omg there are no jobs for aerospace students" must be expunged! There are plenty of jobs for Aerospace graduates, just not in the Aerospace field. It is a little known fact that graduates of Monash University's Aerospace Engineering program walk out of the degree as accredited MECHANICAL engineers as WELL as accredited aerospace engineers. Thus, you can apply for a whole host of jobs in the Mechanical Engineering field - and these jobs are abundant. And, in fact, from what the dean of Engineering was telling me at the scholarship ceremony, Aerospace students are being picked AHEAD of normal mechanical engineering students.
However, if you actually want to work in the Aerospace field, that is a lot harder. The job market is very starved, and you'd be hard pressed to find a job better than "Aircraft Maintenance Engineer" which is apparently quite boring and underpaid. The are a small number of jobs available from Boeing and Airbus in Australia but they are few and far between and competition is FIERCE. If you *really* want to work in the Aerospace field, you will have to consider a move to the USA. If you're like me and want to work on spacecraft... you HAVE to move to the US. So, yeah, hope this has been of help.