Mexico | Remittances increase (+23.3%) due to low unemployment of Mexican migrants (4.1%)

Summary

Favorable working conditions in the U.S. drive remittances to Mexico: the unemployment rate of the Mexican immigrants was 4.1% in September 2021. Since last May, the unemployment level of the Mexican immigrants is below average overall in the U.S. and below pre-pandemic levels.

Key points

• Key points:
• During the month of September, 4,403 million U.S. dollars (md) entered Mexico, +23.3% at an annual rate. Thus, remittances accumulated an upward streak of 17 consecutive months, which began last May 2020.
• Consistently the average remittance has been growing: in September 2019 it was 328 dollars, during that same month of 2020 it reached 347 dollars, and in September of this year it was 381 dollars (+ 9.8% at rate annual).
• Favorable working conditions in the U.S. drive remittances to Mexico: the unemployment rate for the Mexican migrant population was 4.1% in September 2021.
• Since last May, the unemployment level of the Mexican immigrant population has been lower than the general average in the United States and lower than pre-pandemic levels.
• Seven entities concentrated half of the remittances: Jalisco (10.2% of the national total), Michoacán (9.7%), Guanajuato (8.3%), State of Mexico (6.1%), Mexico City (5.7%), Guerrero (5.0 %) and Oaxaca (4.6%).

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