Some of what Soma says is true, but some is because he didn't like journalism. Yeah there are barely any fairfax things, but you can get junior reporter positions etc or do research work or whatever and work your way up. I think if you really want it you will get it eventually, but I think that there are a lot of people who do communications who don't really want it.
Personally myself I kinda want it but I haven't put much effort in to compiling a great portfolio or anything. I would be happy to get a job at a small paper (I would move anywhere.... I have no qualms about living outside a city or anything) and then try and work my way up.... and that's definately a possibility I think...... so even though it isn't easy to get a job as a journalist from a communications degree, it's not impossible. And very few get those prized cadetships at the major metropolitan papers etc.... that is certainly true.
But heaps of the reporters from the tv news and local papers in Albury work on the Melbourne (nine, 7, ten etc) news, Sky News, ABC radio and bigger papers now.... they started in Albury and worked their way up. It happens a fair bit actually....
I think it is the same for most graduates though.... you start at the bottom and work your way up, no matter if you have an engineering, science, business degree or whatever.... I think nearly everyone starts with the menial stuff when they graduate. Plus the unemployment rate for arts grads from any uni is pretty poor anyway.... I guess that is why so many people combine arts.