Thread: CBM-Immigrants in U.S. sending fewer dollars home

Wednesday, July 9, 2008 - 12:41 PM MST

Central Bank of Mexico: Immigrants in U.S. sending fewer dollars
home

Phoenix Business Journal - by Mike Sunnucks

The housing market fallout and rough economy are cutting into the money immigrant workers send back to Mexico.

The Central Bank of Mexico reports that worker remittances to Mexico came in at $5.3 billion for the first quarter of 2008 versus $5.5 billion in first-quarter 2007.

The first-quarter number also is down from the $5.8 billion reported by the Mexican bank for the fourth quarter and $6.3 billion reported for the third quarter of 2007.

Many Mexican immigrant workers send money back to their home country while working in U.S. markets such as Phoenix and Los Angeles.

The Economic Policy Institute said Wednesday that declines in the U.S. real estate market and construction employment are contributing to the drop in remittances.

Arizona has lost 28,900 construction jobs since May 2007, according to the state Department of Commerce.

Immigrants workers are prevalent in labor-intensive sectors such as construction and landscaping as well as lower paying service occupations.

http://phoenix.bizjournals.com/phoenix/ ... st=b_ln_hl

Tax remittances!

Maybe their welfare checks and food stamps have been reduced.

Gee, I guess it does not matter that American workers are having a hard time too......................
A reasonable person might expect our government to stop giving out tax dollars to foreign countries who only want to use us. When is Congress going to realize we are out of money and stop funding LaRaza and other racist groups, feeding at American Taxpayer feed troughs?
These "social" programs have turned into political power for a certain race of people, many of which are here illegally.

How much of that is laundered drug money????