Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Annelise Capossela/Axios

Latino professionals have the widest gap between representation in the labor force and executive positions — bigger than that of any other minority group.

Why it matters: Latinos will make up a quarter of the U.S. population by 2050, and scores of U.S. firms profit off of Latino consumers, but this group is absent from the business world's highest and most impactful decision-making positions.

By the numbers:

  • Latinos account for nearly 18% of the U.S. labor force and own 1 in 7 small businesses.
  • But they occupy just 4% of executive roles and less than 3% of Fortune 1000 company board seats.

"This is completely abysmal," says Sindy Benavides, CEO of the League of United Latin American Citizens. "Latinos make up 1 in 5 Americans, and we’re invisible at the biggest corporations."

The inequities are starkest in some of the country's biggest cities, according to research from the Center for Employment Equity at the University of Massachusetts, Amherst.

  • In New York, Latinos make up 22.6% of the workforce and hold just 4.5% of the executive positions. In San Jose, they are 26.8% of the workforce and hold 3.8% of the roles.
  • Miami, a majority Latino city, has the best representation statistics, with Latinos accounting for 44.1% of the labor force and 24.6% of the top jobs, but even there the gap is wide.

What to watch: "It’s pretty clear that firms respond to public pressure," says Don Tomaskovic-Devey, director of UMass' Center for Employment Equity. Over the summer, at least 170 companies committed to increasing Black representation in response to racial justice protests.

  • Companies haven't faced that same pressure to increase Latino representation, he says.

"One of the reasons it goes unnoticed is because we're also silent on it," says Daniel Villao, chairman of the Association of Latino Professionals for America's board of directors.

  • But the number of organizations speaking out about the lack of representation is growing, and public pressure could quickly build as Latinos make up a larger and larger share of U.S. consumers.
  • "For a business to not take into account that their client base needs to see people that look like them is a mistake," Villao says. "It’s gonna be felt in your wallet."

The bottom line: As we've reported, employees and customers alike are becoming increasingly aware of companies' values, and they're making decisions about where to work and where to buy based on whether companies stick to those values.

  • Increasing Latino representation so that C-suites and board rooms look like the rest of America is a clear way for firms to help their communities and their profit margins.

Go deeper

Dec 16, 2020 - Economy & Business

A year of monumental change in the workplace

Illustration: Annelise Capossela/Axios

In less than a year, the pandemic shot us more than a decade ahead in the workplace transformation.

The big picture: The pandemic's acceleration of telecommuting has changed much more than the way we attend meetings. We'll see lasting impacts on company culture, the job market, demographics and cities.

Job gains slow sharply as U.S. adds 210k jobs in November

Photo: Joe Raedle/Getty Images

The U.S. economy added 210,000 jobs in November, while the unemployment rate plummeted to 4.2% from 4.6%.

Why it matters: Job gains slowed sharply, but the labor market recovery remains on track.

Elon Musk's mega-billion bounty

Photo: Patrick Pleul/picture alliance via Getty Images

Here's how insanely rich Elon Musk is: He has unloaded $10 billion of his stock in the past month — and could do that 15+ more times given his silos of shares.