Maquiladora Industry Begins to Slow

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Analysts are not painting a pretty picture. They say that without a big boost soon, the slowdown in the maquiladora industry and the peso’s downward value will continue to chip away at the U.S.-Mexico border economy. Economists note that protracted unemployment in the assembly plants ultimately lead to job losses north of the border in sectors tied to the maquiladora industry, such as transportation and warehousing. But hope is not lost, the association of maquiladoras and civil manufacturers of Reynosa visited McAllen today to talk precisely about measures taken to counteract the financial crisis. They say that the crisis is being viewed as an opportunity. Under Mexican law, plant employees must volunteer for temporary layoffs, which means they can easily be called back to their former jobs instead of reapplying once production picks up again.