« The mob speaks... | Main | I love living in the Salinas Valley... »

This should be the econ story of the day...

Okay, so I'm now a Californians (and usually taken for a Latina,) and this is something that has been on our minds here for months, since the construction (aka, housing) boom collapsed last year. What about the remittances? Finally, a hint:


Fewer Latino Immigrants Sending Money Home
By JULIA PRESTON
Published: May 1, 2008

In a sign that the economic downturn is hitting hard among Latino immigrants, more than three million of them stopped sending money to families in their home countries during the last two years, the Inter-American Development Bank said on Wednesday.

Growing numbers of Latino immigrants are also considering giving up their foothold in the United States and returning home in response to a slump in low-wage jobs and the crackdown on illegal immigration, the bank reported in a survey of 5,000 immigrants from Latin America.

The survey found that only half of the 18.9 million Latino immigrants in this country now send money regularly to relatives in their home countries, compared with 73 percent two years ago.

Traditional economic indicators usually overlook the impact of undocumented immigrant labor in the US, and yet since so many jobs are tied to the current housing mess in this country, it's hard to believe that we shouldn't include such statistics in our analyzes. This article is a first step for that.

Really, it's wicked bad out here. Food prices, even in the nation's salad bowl, are getting out of control, and schools are emptying, as families return to California Sur. Plus, this past week, near record warm temps, at the height of lettuce and spinach ripening, sent workers into the fields 24/7, but it might have been too late, as I saw evidence of bolting as I drove the 101. It's been a very warm spring and gas prices are well over $4 at most stations in the area. Expect the rice runs to spread to other staples soon.

Post a comment

TrackBack

TrackBack URL for this entry:
http://wampum.wabanaki.net/cgi-bin/mt/mt-tb.cgi/4197

we're using {mt v4.x || wp v2.x || drupal v6.x}, {mysql v 5.x || postgresql v8.x}, perl v5.8.8, php v5.2.5, python2.4.2 and apache v2.x, all running on freebsd-releng_7, on one of four ixsystems, housed in the usawebhost colo space in portland maine. everything is minded by ebw. all work by mb williams and eric brunner-williams are © wampum.