1 Costs and Benefits of High Skilled Immigration March 31, 2009 copies of this presentation can be found at www.antolin-davies.com.

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1 Costs and Benefits of High Skilled Immigration March 31, 2009 copies of this presentation can be found at

2 Immigration has no apparent impact on the unemployment rate. Source:Statistical Abstract of the US, Bureau of the Census.

3 Immigration has no apparent impact on the distribution of income. Source:Statistical Abstract of the US, Bureau of the Census. Equality Inequality

4 Source:Department of Homeland Security and Bureau of Labor Statistics 2002 – 2007 Supply Effect Pre 9/1110% increase in minimum wage  7% increase in immigration. Post 9/1110% increase in minimum wage  5% increase in immigration.

5 Source: Statistical Abstract of the United States, and Bureau of Labor Statistics Demand effect:Overall, there is a slightly positive relationship between the minimum wage and unemployment.

6 Source: Statistical Abstract of the United States, and Bureau of Labor Statistics Demand effect:Minimum wage has no impact on unemployment among higher skilled workers.

7 Source: Statistical Abstract of the United States, and Bureau of Labor Statistics Demand effect:Minimum wage is associated with unemployment among lesser skilled workers. A 10% increase in the minimum wage is associated with a 2.3 percentage point increase in the unemployment rate.

8 Source:Office of Immigration Statistics, Department of Homeland Security; Statistical Abstract of the United States, Bureau of the Census. H-1B approvals are in the prime of their earning years.

9 Source:Office of Immigration Statistics, Department of Homeland Security; Statistical Abstract of the United States, Bureau of the Census. H-1B approvals are highly educated.

10 Source:Office of Immigration Statistics, Department of Homeland Security; Statistical Abstract of the United States, Bureau of the Census; Social Security Administration Present value of expected contributions = $318,000 Present value of expected benefits = $62,000

11 Source:Office of Immigration Statistics, Department of Homeland Security; Statistical Abstract of the United States, Bureau of the Census Present value of expected contributions = $52,000

12 Source:America’s New Immigrant Entrepreneurs, UC Berkeley and Duke University, % of engineering and tech firms were founded by Indian immigrants.

13 CompanyFounderCountry of OriginEmployees IntelAndy GroveHungary86,300 SunBechtolsheim/KhoslaGermany/India34,900 YahooJerry YangTaiwan13,600 GoogleSergey BrinRussia20,222 eBayPierre OmidyarFrance16,200 Jobs created by H-1B’s (as of 2008)

14 Source:Office of Immigration Statistics, Department of Homeland Security; SEC filings of the indicated companies Combined direct job creation (as of 2008): Intel, Sun, Yahoo, Google, eBay

15 Source:Office of Immigration Statistics, Department of Homeland Security Income earned by H-1B’s…

16 CompanyFounderCountry of OriginMarket Cap IntelAndy GroveHungary$86 billion SunBechtolsheim/KhoslaGermany/India$6 billion YahooJerry YangTaiwan$18 billion GoogleSergey BrinRussia$110 billion eBayPierre OmidyarFrance$17 billion Wealth created by H-1B’s (as of 2008)

17 Source:Office of Immigration Statistics, Department of Homeland Security; SEC filings of the indicated companies Combined market value (as of 2008): Intel, Sun, Yahoo, Google, eBay