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1. Normally, when a market has a shortage, the prices go up until equilibrium is re-established. In this case, however, the market just seeks satisfaction elsew
by codgercoder 14y ago
1. Normally, when a market has a shortage, the prices go up until equilibrium is re-established. In this case, however, the market just seeks satisfaction elsewhere.
2. Income pressure leads to young people who are deciding on a career path choosing something that is less influenced by overseas wages, reducing our future engineer supply.
3. There is very likely a big surplus of older engineers who are automatically overlooked in favor of cheaper, more controllable immigrant workers.
- malandrew 14y agoAlso keep in mind that older engineers tend to have family and kids. NYC and SF are not exactly regions that people with kids are quick to relocate to. This somewhat explains the shortage in these regions while there isn't a problem in other more suburban regions. If you have a spouse and kids, you need a much greater increase in income to move to an urban area. One big mitigating factor is the school system in these areas. Most schools are either excellent or terrible and most parents don't want to move unless they can be sure that they can put their kids in the best schools (often you only get this choice by paying for private school).