Mexicans living in the U.S. are experiencing the improvement of the U.S. job market. According to the latest reports, remittances back to Mexico increased by 8 percent compared to the same periods in 2010.
This marks the end of a three-year slump that money transfer services have seen and Mexico remittances accounted for $23 billion of the total amount of revenue.
The data states that this increase is due to an improving U.S. job market. An example of the upward trend can been by money transfer companies such as Money transfer giant Western Union Co., whose revenue sagged during the recession, saw its remittance business strengthen in 2011. The Colorado company reported a 5 percent increase in revenue from its Mexico business in the third quarter compared with the same period in 2010. Its stock price is up more than 13 percent during the last three months.
