Beginner doctors and residents – how’s your situation?

I'm curious how you, doctors in your postgraduate years and first years of residency, feel about overall situation of young doctors in your country.

1. How's the money?
2. Is getting a residency spot very competitive?
3. What are the most sought after specialties by the applicants?
4. How's work-life balance?
5. Are there unemployed doctors in your country?

I've heard some grim news about situation of young doctors in Spain and the UK, basically that it's hard to find jobs, money is shit and that Brits have to compete for jobs with Filipino and Indian doctors. I'd love to have someone living there confirm or debunk those.