The Wall Street Journal
April 11, 2008, 3:34 pm
Fed 2002 Transcripts: Illegal Immigration After a Recession

A sign of what’s to come in 2008? Dallas Fed President Robert McTeer, in offering his take on economic conditions at the Fed’s January 2002 meeting, noted a turnaround in immigration from Mexico. The late 1990s economic boom drove unemployment down in border towns, but the recession didn’t bring unemployment back up as much as expected.

Why? “There is growing anecdotal evidence that this may be due to Mexican immigrants departing the United States in search of a better life in Mexico,â€