An Anonymous Louisiana Reader [Email him]
Last week Edwin Rubenstein reported here on VDARE.com that the employment picture in the U.S. remains cloudy for both immigrants and Americans. He did, however, find that "Hispanics are continuing to crowd into the workforce." Not being an economist, some of his analysis goes over my head.
Maybe it`s easier to "follow the money," as they say. Remittances to Mexico are up for the first quarter of 2012, over 2011, and up sharply for March. Remittances from Mexicans abroad climbed 5.3% in first quarter over a year ago, Mercopress, May 3, 2012. Check out that 16.4% increase for March 2012 over 2011. Remittances vary month to month, but using the $2.08 billion figure from March of this year, we`d have around 25 billion for the year, approaching a return to pre-recession levels.
The Mexican peso, vis a vis the U.S. dollar, has fallen about 25% since 2007, so the dollar hasn`t lost much value for those receiving "los billetes verdes."
Is anyone predicting the U.S. employment or housing picture will recover to 2007 levels so soon?
Louisiana Reader visits the Rio Grande area two or three times a year. See previously A Louisiana Reader Agrees With Patrick Cleburne— Drudge Is Refusing To Post Immigration Outrages and A Louisiana Reader Reports Spillover White Collar Crime—Laundering Mexican Corruption Profits In Rio Grande Valley