MEXICO CITY – The flow of Mexican emigrants to the United States between 1994 and 2008 constituted an export of $81 billion in human capital to the neighboring country, BBVA Bancomer bank said in a report released Monday.
The figure of $81 billion is based on what Mexico spent to educate the emigrants, according to the authors of “Migration Situation.”
Twenty percent of all Mexicans with doctoral-level studies live in the United States, the bank said, while noting that Mexico’s economy cannot absorb the number of people entering the workforce every year, even those who are highly qualified.
In fact, BBVA Bancomer said, the highest rates of unemployment occur among the population with the most education, and the numbers of them who are not working are up to three times those of people who just went to primary school or did not go to school at all.
This means that Mexico needs comprehensive reform to make the labor situation more flexible, to give incentives for training, to generate greater public and private investment and to increase competitiveness, among other things, the bank said.
The reasons why Mexicans continue leaving for the United States have to do more with the opportunities offered to them there than with the lack of those same jobs in Mexico, the report contends.
BBVA Bancomer predicts that the recovery in remittances that Mexico receives from its emigrants to the United States, which dropped off in 2008, will be slow and that it could be 2013 before they climb back to the historic highs registered in 2007. EFE