Friday, November 14, 2008

More reasons to go back to school: NE immigrants earn more than U.S. immigrants

This post is related to a previous post, It’s a good time to go to college; modern job market requires a BA. According to the Boston Fed, the median income in 2000 for all U.S. immigrants was $39,200, while for New England (NE) immigrants it was 7% more, or $42,000. Both are below the native-born median income, almost $50,000, but New England has a larger share of immigrants with advanced degrees than does the U.S.

In total, 14% of New England’s immigrants hold advanced degrees (higher than a college degree, BA), while just 12% of U.S. immigrants hold advanced degrees. The share of immigrants that hold lower degrees – BA, high school, and less than high school – are essentially the same.

(Click to enlarge; Source: the Boston Fed)On the surface, it pays to go back to school - not only to get your BA, but to get a higher degree. As Paulson scraps the original TARP plan (Troubled Asset Relief Program) to focus on consumer-related securitized industries – credit cards receivables, auto loans, and student loans - perhaps the funds will be there to get a higher degree during this recession.

Rebecca Wilder

1 comment:

  1. Rebecca,

    You asked me a question about UK data sources. We have nothing as cool and user friendly as FRED. The two main sites are

    www.ons.gov.uk
    www.bankofengland.co.uk

    You can normally download data into excel, but you have to wade through some very badly presented sites.

    Alice

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