I think whether it's racist depends whether anyone actually believes it to be true; I happen to be Jewish and I'll make jokes like this with my friends from time to time because they know me and know that jews don't 'eat babies' or 'control the banks and media' or whatever Protocols-esque shit is being spouted, because it's an absolutely ludicrous concept. It's more humor about the fact that there's this ridiculous stereotype out there than the fact that that it's true to life. And it's true, it is funny.

However, the problem is that there is a delusional fringe who actually believes that jews are cheaper than any other immigrant culture trying to boostrap themselves up in the new world, the irony implicit in these kinds of jokes are lost on them and contribute to the "Well, everyone KNOWS jews are cheap" delusion. We have to be careful about how such jokes are presented and how subtle we are about the 'sarcasm' of the intent.