Wells Fargo A National Survey Of Financial Attitude And...

Wells Fargo conducted a national survey of financial attitude and behaviors in 2013 and found that over one third of Chinese-Americans (37%) reported a $100,000 annual earning, compared to only 23% of all adults in the U.S. (Wells Fargo, 2013). Oh and Min (2011) employed the 5 percent 2000 Public Use Microdata Sample from the U.S. Census to compare the earning patterns among Chinese, Filipino, and Korean Americans in New York. The sample consisted of male workers between 25 and 64 years old. The reason was that the earning patterns and behaviors were different between the male and female workers. Three generations were studied in this research: the first generation, the 1.5 generation and the second generation. First generation referred to†¦show more content†¦Sharpe (2008) further conducted an analysis on the income status among older Asian Americans (65 or older), using the 2000 5 percent Public Use Micro data Sample of the 2000 Census. Six Asian racial groups were include d in this study: Asian Indian, Chinese, Filipino, Japanese, Korean, and Vietnamese. Similar to whites, a large majority of the Japanese Americans were found to have received Social Security income and prepared for retirement. Koreans lived at or below poverty as blacks, while whites, Filipinos, and Japanese had the fewest people in poverty. Asian Indians were found to have the highest income level, in respect of wage and salary and self-employment income. In contrast, the Vietnamese reported the lowest wage and salary income. Results showed that education, household size, English proficiency, longer immigration histories and American citizenship positively affected the income level across all racial groups. Using the 1980 Public Use Micro data Sample from the U.S. Census, Zhou and Kamo (1994) compared factors affecting the earnings for Chinese, Japanese, and Non-Hispanic white males in the United States in terms of assimilation, human capital and structural characteristics. Assimilation was measured by English levels and length of stay in the United States since immigration. Human capital was measured by education and age. Structural characteristics mainly referred to the industry, occupation, hours per week and whether living in large metropolitan