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| Subscribe to The Daily Money newsletter, our roundup of each day's top stories from USA TODAY Money. |
| Good morning and happy Friday, Daily Money readers. Jayme Deerwester here. We've finally reached another rest interval in our 5:2 work-rest ratio routine. |
| Inflation is really starting to crimp Americans' spending. In December, retail sales declined for the first time in five months, largely because of surging prices, bare store shelves and omicron. |
| Rising wholesale prices are leading businesses to pass more costs on to shoppers. As a result, consumers are retreating from spending at places like department stores, restaurants, and even online, because of both sticker shock and product shortages stemming from the supply snarls. |
| "I told my wife that it feels like it happened almost overnight," says Jason Flores, 48, who relocated from San Francisco to Austin near the start of the COVID-19 pandemic. "I even said to myself, 'Holy cow, everything is getting super expensive here!'" |
| Want to do the math? Play with USA TODAY's inflation calculator. |
| On to today's ... |
| 💡DAILY INSIGHT. 💡 Boardrooms and corner offices at America's largest and most powerful companies have remained predominantly white and male, while people of color – especially women of color – are clustered at the bottom levels of pay and prestige. |
| Federal regulators keep corporations' annual diversity reports under wraps, but USA TODAY obtained them after senior technology and economic opportunity reporter Jessica Guynn asked S&P 100 firms to release the data voluntarily. The nation's largest employer, Walmart, provided its worker demographics for the first time and the runner-up, Amazon, shared its data for the first time since 2016. |
| As with most of the nation's biggest corporations, Walmart's racial and gender composition at the top is very different from that in lower-ranking and lower-paying roles that typically offer less flexibility and fewer benefits. Last year, white men held 51.2% of Walmart's executive posts despite making up just 33.7% of the U.S. labor force and only 24.5% of all Walmart employees. Meanwhile, diversity among Amazon's executives has increased since 2016, but the change has been slow and falls behind other major companies – including technology giants – reviewed by USA TODAY. Search the full database. |
| OTHER STORIES YOU WON'T WANT TO MISS: |
| Can't order free COVID-19 tests from COVIDtests.gov? There's now a phone number to call for ordering or help. |
| Climate change and social media. Misinformation on Facebook, YouTube 'as bad as ever' |
| How much does the average American make? U Penn students guessed six figures. Yeah, no. |
| Pacifiers recalled. Mushie & Co recalls nearly 334,000 Frigg silicone pacifiers due to choking hazard. |
| Peloton denies report it's halting production. Shares of Peloton plunged Thursday following a report bike and treadmill production is being paused due to lower demand. |
| 🎶 MOOD MUSIC. 🎶 Today's in-depth report on corporate diversity inspired me to use "Shout," Tears for Fears' ode to feeling fed up , especially at work: "Those one-track minds that took you for a working boy. Kiss them goodbye, you shouldn't have to jump for joy. You shouldn't have to jump for joy." |
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