Mexicans in U.S. sending less money home, bank says

MEXICO CITY, Mexico (CNN) -- Mexicans in the United States sent home 12.2 percent less money this past August than the same month last year, the Banco de Mexico said Wednesday.

That translates into remittances of $1.9 billion, versus $2.2 billion last year, said the bank, which blamed tough economic times in the United States for the decline.

"The prolonged deceleration of economic activity in the United States has adversely affected the opportunities for employment in that country and, consequently, those of the Mexican migrants," the bank said in a statement posted on its Web site.

August's tally quickens a trend -- during the first eight months of the year, remittances fell 4 percent to $15.6 billion, the statement said.

The numbers translate easily into stories of hardship. Marilyn Pena lives outside Mexico City and depends on remittances to get by. Her father migrated to Chicago 12 years ago to find work and, in good months, sends his daughter about $200 per week.

But last week he sent nothing. "He told me he has no more work because of the situation there," Pena said.

"Temporary workers are always the first to lose their jobs in crises like this one," said Luis Pena, an economist. "Since many Mexicans in the United States are there illegally, they are most vulnerable to unemployment."

Some economists predict the drop will increase by year's end to 20 percent.

After oil exports, remittances are Mexico's second-largest source of foreign currency.

In Atlanta, Georgia, which has one of the greatest concentrations of Mexican residents in the southeastern United States, Yasmin Gutierrez runs a company that Mexican immigrants use to send dollars abroad.

"Before, they used to come every week and they used to send big amounts and lately, well, nothing, or almost nothing. Some clients are no longer coming, and those that are coming are sending small amounts."

Rosina Gonzalez, who ran a Western Union office in Atlanta several years ago and recently returned to the job, said she has noticed a big change.

Back then, "everyone was sending money to Mexico, Mexico, Mexico -- a lot of money," she said.

"Now, I'm returning to work after four or five years and the norm now is that the people who used to send money to Mexico are asking the people in Mexico to send money here."

Some are abandoning their hope for a slice of the American dream by opting to return to their country.

The woman running the foreign-currency exchange service Afex, also in Atlanta, said business is so bad she is afraid of losing her job.

CNN's Harris Whitbeck in Mexico City and Viviana Fernandez in Atlanta contributed to this story.

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