The purpose of this paper is to analyse the effect of the 2007–2008 economic and financial crisis on the levels of employment and unemployment of skilled migrants from Latin America and the Caribbean (LAC), as well as their conditions of labour insertion and levels of income, in order to identify patterns of occupational segregation and wage inequality according to their participation in the US labour market. This analysis was developed using a comparative perspective in two ways: on the one hand, comparing skilled migrants from LAC to the skilled migrant population from other regions of the world and to the native skilled population and, on the other hand, by analysing these indicators pre‐crisis and post‐crisis. The information source employed in this study was the March supplements of the Current Population Survey 2006–2012. Our findings indicate that the crisis affected the entire skilled population in the USA and particularly the migrant population. This impact is stronger among LAC women because they are the ones at greatest disadvantage, a situation that worsened following the crisis. Skilled migrants from LAC are substantially more segregated on the occupational structure than other migrants, and they increased its concentration in medium‐skilled occupations. The study also found that skilled migrants from LAC are underrepresented in professional occupations. Copyright © 2015 John Wiley & Sons, Ltd.