Posted on 03/14/2011 5:00:41 PM PDT by La Lydia
Immigrants from most Latin American countries sent home substantially more money at the beginning of 2011 than they did a year earlier, signaling the economic recovery in the U.S. and other developed countries has improved prospects for foreign workers. Guatemala, Honduras, El Salvador and Mexico received between 6% and 16% more revenue from remittances in January than in the same month last year, according to the International Fund for Agricultural Development...
The January figures, coupled with 2010 data to be released Monday...confirms the end of a downward trend in remittance flows, which had tumbled 15% between 2008 and 2009...
Remittances to Latin America and the Caribbean reached $58.9 billion last year, a 0.2% increase over 2009, according to the IDB. "That's significant because we had seen such a precipitous drop from 2008 to 2009" as the U.S., Spain and Japan, host to many blue-collar immigrants, slid into recession, said Natasha Bajuk...
In January, remittance flows to Mexico jumped 5.8% over the same month in 2010, and the average value of each remittance rose nearly 1% to almost $300 compared to January last year. Once the remittances were converted into pesos and inflation was discounted, their real value shrunk by 3.2% in January relative to the same month last year.
For all of 2010, Mexico saw a 0.1% increase in remittance revenue over 2009. Central American countries, where currencies are pegged to the greenback, don't feel the effects of currency volatility. The region, which includes Guatemala, El Salvador and Honduras, also showed a more steep recovery in remittance flows in 2010, or a 3.1% increase over the previous year. Immigrant workers in the U.S. are recovering jobs more quickly than the overall population, experts say. Thus, remittances are expected to keep rising, even if growth will be gradual, they predict.
(Excerpt) Read more at online.wsj.com ...
open borders ping
Great job, Feds!
This recovery is great! All hail Obama!
Amazing the disposable income people have when the US taxpayer funds you and your children’s basic needs and you can pocket the rest, or work in cash businesses.
It is amazing.
We spend three times that much educating their children, imprisoning their criminals, giving “free” health care to them, and feeding their illegal pie holes.
Now you know who’s employed.
See also: Numerous front page stories on the over 2000 deaaths since Gifford, rampnt immigrant welfare fraud and the.Somalis minor sex trafic rings in Minnesota.
Buoyed by Recovery, Migrants Send Home More Money
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Well isnt that nice...
I was worried there for a bit...
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