Why Mexico's Migrant Workers Stiffed Their Moms This Mother's Day Matt Phillips - Quartz.com
go to original July 31, 2013

Specializing in mommy-grams. (Reuters/Eric Thayer)

Every once in a while, lifeless economic data reveals a glimmer of humanity.

Case in point: Morgan Stanley analysts noted recently that remittances from migrant workers to Mexico tend be heaviest in May, when workers send more of their wages back home for Mother’s Day. That’s a sweet sentiment. But it seems that Mexico’s migrants might have been a bit less generous with mom this year. Remittances tumbled 13% in May, compared with May 2012.

That’s a bit strange given the rebound in the US residential real estate market. In the past, construction activity has been closely correlated to remittances back to Mexico. Both plunged at the same time during the housing bust in 2008-09. Likewise, they’ve risen in lockstep over the past few years. But that relationship has broken down more recently.

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