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John Coates - Labor Market Paper

John Coates - Labor Market Paper

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Published by: acapulcomx on Oct 08, 2010
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08/26/2014

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John CoatesDr. Ron DunbarMicroeconomicsLabor Market Analysis PaperSales Worker SupervisorI’ve been exposed to small businesses since I can remember. Growing up, threeout of the five rooms in our house were used for an English school that my parents hadstarted. I got to know the ins and outs of running a business from an early age, sowhen I got older I wanted to be in the role all the people I had looked up to have been.Most of my family members from Mexico have owned a business, and they’ve been agreat inspiration for me. In the past few years I have started many small, relativelyunsuccessful, online businesses. I’ve always dreamt of managing a retail businessthough, and my goal for nearly six years has been to open up a trendy clothing store indowntown Sydney, Australia.As stated on the Bureau of Labor Statistics website, in 2008, sales workersupervisors held approximately 2.2 million jobs. That’s a large area of opportunity in myeyes. Of those 2.2 million, roughly 748 thousand, or 34 percent, were self-employed.That’s what I’m aiming for, owning and managing my own business. That way all theblood and sweat put into working each day builds up to something I can truly be proudof, instead of putting my time into someone else’s business. The outlook for the futureis relatively negative, with employment growth expected to grow more slowly thanaverage, and competition for jobs expected. It might be difficult to get a foot in the door,
 
but I strongly believe that getting into a challenging job market is more rewarding thatgetting into one with no competition.Salaries for sales workers supervisors are all across the board, and depend onseveral factors including the worker’s level of responsibility, length of service, and thesize and type of company they work for. The medium annual paycheck for 2008,according to the BLS, is $35,310. I don’t expect this to mean too much when you ownyour own business, as your paycheck can be measured by your success. That can, ofcourse, be either a negative or positive thing, depending on how you manage thebusiness.There will be a higher demand for this job position, based on the “Job Outlook”section of the BLS’s Occupational Outlook Handbook for sales worker supervisors,
 
which states that employment is projected to grow slower than average, and thatcompetition for jobs is expected. Thus there will be a right-ward shift in the employmentlevel curve, leading to a higher equilibrium wage, as illustrated in the graph.

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