In capitalistic nation like the United States of America, the labor market is controlled by forces of demand and supply. When demand for a certain profession is high, then salaries and wages are expected to be high; on the other side when the demands of a certain profession is low, then wages and demand of the profession will be lower.
When a profession is paying higher than the equilibrium wage rate, then the profession is considered to be getting higher return than the expected ones (Goodwin-White, 1119). This paper discusses computer technician profession as one career that earns high returns than the equilibrium wage rate.
The profession
One profession that is earning higher than the equilibrium wage rate is computer technician job; the main work of the technicians is to repairs and maintains computers hardware, software, computer accessories, and servers.
Other than the tasks started above, at high level, technicians are involved in the works of configuring new hardware, maintaining system networks, installing and updating software packages; there are different ranks and levels of the career from certificate level to doctorate level. Wages and salaries from the profession depend with ones level of education.
Source of demand
The main source of demand for computer technicians comes from corporate and individual customers who have adopted current technologies in computers. There is an increased use of computer for various activities; the computers, both hardware and software need to be maintained and managed; this is the role of the technicians.
The demand and increased use of computers means that there will be an increased demand for technicians and their service; other than the increase in demand, there is a fast upgrading of computer systems calling for people to need the demand of technicians. To tap the increasing market, technicians use different methods; they include formal employment, freelance computer technicians and businesses.
When employed, their wages is relatively high compared to wage of other people in different professions. On the other hand, when they are operating personal businesses and as freelancers, they get an increased demand for their services, thus increasing their returns (Goodwin-White, 1119).
Supply
The demand of technicians is expected to be fulfilled by young people graduating from colleges and universities. However, the arte at which students are taking computer science as their course is not as high as the demand for the course. On the other hand, it is considered as one of the courses that require high college entry marks thus it limits the number of students that engage and take the course this further reduces the supply of professionals.
Another thing that has affected the supply of the labor is increased movement of trained profession to other nations where they go to get better chances in life; the outflow makes the United State market suffer a deficit (Sobel and Stroup 23).
Government control and regulations
Although the United States regulates wages and salaries in the economy, it does not set the highest limit that someone should get as his or her salary. On the other hand, there is no central body of technicians that can control the prices they should charge for their services. The lack of control leaves demand and supply to be the only determinant of price in the market; the capitalistic nature of the market works for the good of the profession.
Works Cited
Goodwin-White, John. “Emerging Contexts of Second-Generation Labour Markets in the United States”. Journal of Ethnic & Migration Studies 35.7 (2009): 1105-112. Print.
Sobel, Macpherson, and Stroup Richard. Economics: Private and Public Choice. New Jersey: Wisely,2008. Print.