Mexicans sending less money home

The World

This 25 year old says it’s difficult to provide for his family in Mexico now. he’s just taken a part time store as a nighttime watchmen in a department store in a seedy neighborhood. His plans to study engineering have been hijacked by the bad U.S. economy. He says he got money to study from his uncle but his uncle is now out of a job and out of money. Until two months ago, the uncle was sending $400 a month from his job in Indiana as a laborer. He had done so for 12 years. that situation is the same for thousands of Mexicans who are feeling a direct hit from the U.S. financial crisis. The flow of cash from Mexicans living in America to back home has slowed to a relative trickle. This student in Mexico says this is devastating to the Mexican economy and more Mexicans aren’t going up north because they know they can’t make money, and more people are coming back. if the U.S. economy slows down further, the Mexican economy will suffer as well. The Center for Immigration Studies in Washington says the illegal immigrant population in the U.S. has dropped by 11% since August of last year. The Center also says because of an uncertain economy and stepped up policing, more Latin Americans are returning to their homes. But there have also been fewer jobs in Mexico. This is a perfect economic storm for Mexico.

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