Trump’s Big Bet on Immigration Isn’t Paying Off for Most Workers

WSJ What’s News

The Wall Street Journal

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🗓️ 22 April 2026

⏱️ 12 minutes

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Summary

P.M. Edition for April 22. A year into President Trump’s immigration crackdown, data is starting to provide answers to a longstanding policy question: What effect do immigrants have on wages, and what happens when they leave? WSJ economics reporter Paul Kiernan digs into it. Plus, the Trump administration nears a deal to save Spirit Airlines. And Tesla reports higher revenue and profit for its most recent quarter. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I think the potential of Agenic is to rethink how work gets done overall.
0:05.0	It challenges all sorts of traditional orthodoxies around how organizations execute the work at hand.
0:11.3	That's Jason Gersatus, CEO of Deloitte U.S., talking about the transformational potential of A.Gentic AI.
0:17.9	Join him later to learn why agents are a game changer for businesses across industries.
0:26.4	The Trump administration nears a deal to save Spirit Airlines. Plus, how has President Trump's
0:32.3	immigration crackdown affected the labor market? We dig into the data. President Trump and his
0:36.8	allies have long said that reducing immigration would bring higher wages
0:41.9	and more jobs to American-born workers. We did a broad review of labor department data on wages
0:49.5	and job growth and unemployment, and we just didn't really find a whole lot of evidence
0:53.3	at that.
0:57.7	And Tesla reports higher profit and sales in its latest quarter.
1:00.1	It's Wednesday, April 22nd.
1:02.4	I'm Alex O'Sullough for the Wall Street Journal.
1:08.7	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:19.9	Tesla reports this afternoon that profit grew 17% from a year earlier, while sales grew 16% to $22.4 billion.
1:26.2	In the auto division, deliveries were up more than 6%. Tesla is trying to pivot its business away from vehicle sales to focus on autonomous
1:28.7	vehicles and humanoid robots, neither of which are currently for sale. For more on Tesla's
1:33.7	earnings, go to WSJ.com. Boeing's commercial jet production kept gaining steam in the first quarter,
1:39.8	helping to reduce the company's quarterly loss. Its loss came to $7 million compared to $31 million the year before and beat Wall Street's expectations.
1:49.4	The company still burned through about $1.5 billion in the quarter, a hangover from the production caps that regulators imposed two years ago to address issues with quality control.
1:59.6	Officials have relaxed some of those limits, and now more 737 max jets are rolling off the line.
2:05.9	On CNBC this morning, Boeing CEO Kelly Ortberg talked about the company's plan for stepping up production of the plane this summer.
	...

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