Trump’s grand plan to put American workers first may be backfiring as U.S.-born unemployment rises and wage growth stalls

Photo credit: Official White House photo by Joyce N. Boghosian via Flickr. US government work. Article by Eleanor Pringle. Yahoo Finance – August 16, 2026. This article was originally featured on Fortune.com

President Trump was clear in his pitch to voters: In 2024, he pledged to bring back the American Dream. Removing immigrants “taking jobs from American workers and driving down their wages” was a key part of the plan. A few years later, the effects of this policy are now visible in the labor market. January data from the Census Bureau showed an historic decline in net international migration, down from a peak of 2.7 million people in 2024 to an estimated 321,000 by mid-2026. Brookings puts that figure even lower, saying the U.S. could see negative net migration this year. […]

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