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And it's those 19th century concentrations of educated individuals that are responsible for high skill levels and growth now.
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In the OECD we are 18th for low skills, 20th for intermediate skills and 11th for high skills.
The growth of graduate jobs is linked to the rising demand for high skills, as concluded by the substantial research literature on skill-biased and task-biased technological change (e.g. Acemoglu and Autor 2011; Goos et al. 2014).
This finding suggests that some of the observed differences in migrant location may reflect differences in best location for higher skill groups.
One result is that immigrants are sought for higher skill jobs that people out of work are unqualified to fill.
The picture is much different for high-skill immigrants.
It makes it very difficult to train them for high-skill jobs".
There's no such thing as a free lunch in economics, except, maybe, for high-skill immigration.
As a result, Grusky says, "we overpay for high-skill workers," which is damaging to the economy.
Wages also grew faster for high-skill people between 2008 and 2010 (the last year for which I have data).
Competition among banks will bid up compensation to $600K for high-skill workers and $300K for low-skill workers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com