Income Talk: Asian Americans No Longer Holding the Top Spot

 

Another interesting read I found by TIM from 8Asians.com. His article: Asian Americans Lose Top Income Spot summarizes the Pew Research Report:Twenty to One which states that Asian American "net worth fell from $168,103 in 2005 to $78,066 in 2009, a drop of 54%" from 2005 to 2009.  Explanations include Asian Americans esp. in California being hardest hit by the recession, as well as increased rates of Asians immigrating to the United States working lower income jobs that tip the scale. This data is based on 2009 information that was just released to researchers so the numbers might be different now in 2011. In any case, I want to know what this means for Asian Americans looking for jobs now? Is this data accurate? Are we looking at a continued drop?  Unemployment rates are high and we need to pick it up!

More updates on this issue to come! Know something? SAY something! Leave one!