Remittances from Mexican migrants in the United States during the time of COVID-19

Abstract

Following the Great Recession of 2007-2009 in the United States, Mexican migrants’ remittances began to grow steadily in 2014 until they reached a historical level of US$36 billion in 2019. This figure was at US$4 billion in March 2020 when Mexico had been suffering the effects of COVID-19 for one month. In April, remittances from Mexican migrants in the United States dropped 28%, as their unemployment rate reached 17%. Recuperating remittance levels will depend on economic recovery policies in the United States, and on reducing unemployment for Mexican migrants in the sectors where they have the biggest presence.