Illustration: Rebecca Zisser/Axios

People of color now comprise a majority of new hires for the first time in U.S. history, according to the Washington Post's analysis of Labor Department data dating back to 1970.

Why it matters: Minority hires overtook white hires last year, a sign of the shifting demographics of the country's workforce. It means that minority families, who on average earn less and are less wealthy than whites, are gaining more financial security.

By the numbers: Minorities in their prime working age (25 to 54) have gained at least 4.5 million new jobs since 2016, while the same can be said for only 700,000 white workers.

  • The milestone is the result of more baby boomers retiring and more minority women entering the workforce, per the Post.

Yes, but: It is unclear whether minority groups will hold on to these new jobs if job growth slows and the economy slides into a recession.

  • Marianne Wanamaker, an economist and former member of Trump’s Council of Economic Advisers, told the Post: "We’ve seen a lot of gains in employment among lower-income and lower-education groups. But it is precisely those groups that are vulnerable to layoffs if economic activity slows."

Go deeper: Black people are jumping back faster into the workforce

Go deeper

M&A activity falls despite early coronavirus fears

Illustration: Aïda Amer/Axios

In April, several prominent Democrats proposed a moratorium on large mergers and acquisitions. Their argument was that the pandemic would embolden the strong to pounce on the weak, thus reducing competition.

Fast forward: The moratorium never materialized. Nor did the M&A feeding frenzy.

More than 32 million Americans are receiving unemployment benefits

Photo: Jay L. Clendenin / Los Angeles Times via Getty Images

More than 32 million Americans are receiving some form of unemployment benefits, according to data released by the Labor Department on Thursday.

Why it matters: Tens of millions of jobless Americans will soon have a smaller cash cushion — as coronavirus cases surge and certain parts of the country re-enter pandemic lockdowns — barring an extension of the more generous unemployment benefits that are set to expire at the end of the month.

2 hours ago - Sports

Alumni fight to save college sports

Data: Mat Talk Online; Chart: Andrew Witherspoon/Axios

242 collegiate athletic programs have been cut amid the pandemic, altering the careers and lives of thousands of student-athletes.

Yes, but: Some passionate alumni groups have opted to fight, banding together in hopes of saving the programs they helped build and continue to love.