Mexicans working in U.S. sending less money home - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Mexicans working in U.S. sending less money home

ATOTONILCO, Mexico (AP)  Immigration raids and a struggling U-S economy are choking the flow of money to Mexican hamlets where up to half the people work in the U.S.

Migrants are sending less money home. Payments have fallen about 2 percent to $11.6 billion this year. Mexico's Central Bank said today it's the first such drop in more than a decade.

The buying power of this money has been battered by the weakening U-S dollar. The dollar has lost about 8 percent of its value against the Mexican peso so far this year.

In Mexico, businesses that once thrived selling everything from beds to bricks to the families of migrants have laid off workers.

Bank of Mexico President Guillermo Ortiz said about 22 percent of Mexican workers in the U.S. have jobs in construction, an industry that has slowed sharply.

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