Morning Business Report: Job gains, layoffs, and market drops

The White House reports nearly 2 million job gains for American-born workers since January.

(LILAMAX)- The White House reports nearly 2 million job gains for American-born workers since January, marking a significant shift in labor market trends. This comes as employment among foreign-born workers—especially unauthorized immigrants—declines.

A recent Bloomberg News analysis estimates that undocumented immigrants make up roughly 5% of the U.S. labor force, playing critical roles in sectors like construction and food processing, where labor shortages have persisted.

The U.S. Supreme Court has given the green light for the Trump administration to move forward with mass federal layoffs, overruling a lower court’s earlier block. The layoffs are part of a February executive order signed by President Trump, calling for “large-scale reductions in force” across 19 federal agencies. Litigation continues over the legality of the firings.

Stocks closed mostly lower Tuesday, as investors continue to grapple with uncertainty over the administration’s aggressive tariff strategies. Big banks took a hit following a downgrade, contributing to market unease.

The price of copper surged to a record high Tuesday, following President Trump’s threat to impose a 50% import tariff on the metal. Copper is a key component in homebuilding, used in wiring, roofing, and corrosion-resistant materials.

As Amazon Prime Day draws attention from deal-hunters nationwide, even the Crafty Lumberjacks are joining the spotlight—encouraging shoppers to think ahead for the holidays. One standout: the Cricut machine, used for personalized crafting, is marked down to $149.