Friday, March 05, 2010

Remittances and Brazil

The IADB reports that remittances to Latin America and the Caribbean are stabilizing.  This is good news for the U.S. economy, because it means jobs are now available again.

Remittances had dropped drastically last year, led by a 34% drop to Brazil.  That drop was also due to the fact that the Brazilian economy did well last year, to the point that the government is concerned it is growing too fast.  In that sense, the drop in remittances is entirely positive and hopefully they don't increase again--it is always better to generate your own jobs than simply to export your labor.


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