Wednesday, May 30, 2007

Housing Slump, Migrant Crackdown Reduce Dollar Flows to Mexico, Hurt Peso

(Bloomberg) -- Ernesto Perez, a 27-year-old Mexican
immigrant, says construction work in New York has become so
scarce he's stopped sending money back to his parents in the
southwestern state of Guerrero.

``If I don't find work soon, we're moving back home,''
Perez said last week as he walked away from the corner in
Queens, New York, where he and dozens of Hispanic workers hope
to get chosen for construction jobs. On this day, Perez gave up
after a six-hour wait.


Read more at Bloomberg Exclusive News

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