Remittances to Mexico rose 3.8% in May from the year-earlier month to $5.61 billion, the Bank of Mexico reports, bringing transfers for the first five months to $25.29 billion, a 2.8% year-on-year increase. A rising labor participation rate among Mexican migrants in the U.S. since September coincides with a recovery in remittances, Juan José Li Ng of BBVA says in a note. The participation rate fell from April to August of last year, which was the period of sharpest declines in remittances, he adds. Unemployment among Mexico migrants in the U.S. is trending down, "which is favorable for the economy of these households and for their relatives who receive remittances in Mexico." (anthony.harrup@wsj.com)
Dow Jones Newswires
Improved Employment of Mexicans in U.S. Bolsters Remittances — Market Talk
Remittances to Mexico rose 3.8% in May from the year-earlier month to $5.61 billion, the Bank of Mexico reports, bringing transfers for the first five months to $25.29 billion, a 2.8% year-on-year increase. A rising labor participation rate among Mexican migrants in the U.S. since September coincid…