Mexican income fell 12 pct during global crisis

Study: Mexican income fell 12 percent during global economic crisis, wealthest hit hardest

Associated Press

MEXICO CITY (AP) -- Mexican researchers say the average income in Mexican homes fell just over 12 percent during the global economic crisis.The National Institute of Statistics and Geography says average household quarterly income had risen before 2008, reaching 39,823 pesos, or about $3,400. But it then fell to 34,936 pesos by 2010.The study says the richest 10 percent of Mexicans suffered the biggest drop in income, falling nearly 18 percent. It theorizes that could be because wealthy Mexicans had more investments in the U.S. housing market.Poor Mexicans had a smaller drop -- about 7.5 percent -- but might have had more trouble compensating for their losses.As of 2008, some 47 percent of Mexicans lived in poverty.

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