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

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

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. Equality Inequality Source: Statistical Abstract of the US, Bureau of the Census.

4. 2002 – 2007 Supply Effect Pre 9/11 10% increase in minimum wage  7% increase in immigration. Post 9/11 10% increase in minimum wage  5% increase in immigration. Source: Department of Homeland Security and Bureau of Labor Statistics

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

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

7. 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. Source: Statistical Abstract of the United States, and Bureau of Labor Statistics

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

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

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

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

12. 26% of engineering and tech firms were founded by Indian immigrants. Source: America’s New Immigrant Entrepreneurs, UC Berkeley and Duke University, 2007.

13. Jobs created by H-1B’s (as of 2008) CompanyFounderCountry of OriginEmployees Intel Andy Grove Hungary 86,300 Sun Bechtolsheim/Khosla Germany/India 34,900 Yahoo Jerry Yang Taiwan 13,600 Google Sergey Brin Russia 20,222 eBay Pierre Omidyar France 16,200

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

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

16. Wealth created by H-1B’s (as of 2008) CompanyFounderCountry of OriginMarket Cap Intel Andy Grove Hungary $86 billion Sun Bechtolsheim/Khosla Germany/India $6 billion Yahoo Jerry Yang Taiwan $18 billion Google Sergey Brin Russia $110 billion eBay Pierre Omidyar France $17 billion

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