Free Market in Force
Dental Hygenist jobs in Vancouver is a great example where free market and competition can correct a skewed payscale.
About 5 years ago, dental hygenists were in real demand because there were only 3 schools in BC producing around 75 grads a year. A new grad could easily start at $45/hour, with average pay at $50-55/hour and jobs were easy to find. I don’t want to say that they were overpaid, since the free market should decide that. But in many people’s eyes, it was considered a Sweet Gig. So there were a rush to enter the field. As the demand shot up, many private schools opened up to meet the demand with their own pursuit for profit and had no vested interests to control the pool of competition like medical and dental school. So since a couple of years ago, there was huge influx of new hygiene grads into the job market. Now all has changed. It is very difficult to find at least full time job as a dental hygenist and the salary has also dropped signficantly to around $30-35/hour, with people asking as low as $28.
As the earnings goes down, this career is becoming less attractive to the potential hygenists and competition will scale back. Eventually, the job market will rebound a bit to settle down on a pay level that is deemed fair by the free market.