🏖️ Happy Friday! Today we consider a puzzling question: If diversity is good for businesses — and the public doesn't mind — why are so many companies running away from it?
- Plus: The case for more bankruptcies, and Trump skepticism at the grocery store.
⏰ We'll be off Monday but back in your inboxes Tuesday!
A majority of Americans across nearly all demographic groups said DEI initiatives have made no impact on their personal careers, according to a newly released Harris Poll/Axios Vibes survey.
Why it matters: Republican lawmakers and activists have vilified DEI, a term for diversity, equity and inclusion policies used by employers. Companies have responded by rolling back programs.
- Yet Americans — and businesses — have a generally positive to at least indifferent view on the subject.
- On balance, most demographic groups were more likely to say DEI benefited their career than hindered it.
By the numbers:
- 57% said DEI initiatives have had no impact on their career, while 16% explicitly said it's hindered them.
- 39% of Democrats said they've benefited from DEI, compared to 26% of Republicans.
- 51% of respondents said DEI is primarily a symbolic gesture, while the rest said it is essential for equality.
The big picture: There is broad support for the idea of diversity inside companies.
- 61% said diverse employees have a positive impact on organizations
- 75% agreed that more needs to be done to guarantee everyone is advancing.
If capitalism without bankruptcy is like Christianity without hell, then the U.S. over the past decade or so has been a joyous church indeed.
Why it matters: We're now beginning to see signs that the days of very few bankruptcies might be coming to an end, thanks in large part to the Fed.
By the numbers:
- Bankruptcy filings by companies rose to 694 in 2024, up 9% from 2023
- Overall business bankruptcies rose to 22,762 in 2024, up 33% from 2023
The big picture: Bankruptcy — a process that wipes out debts and allows fresh starts — is a necessary part of any dynamic economy.
Most Americans have little to no confidence that Trump can lower the price of groceries and other basic necessities in his second White House term.
By the numbers:
- 61% said they were only "slightly" or "not at all" confident that he could lower the cost of food and groceries this year
- 64% were uncertain about housing costs
- 65% were uncertain about health care costs
The intrigue: Trump campaigned aggressively on inflation and specifically promised to lower grocery prices. Since winning, he's changed his message, acknowledging it's hard to lower a price that's already gone up.