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From groceries and gas for consumers to health care premiums and hiring freezes for employers, it’s clear that belt-tightening is happening throughout the U.S. economy.

Between labor shortages and interest rate hikes, financial experts are closely watching the economy for signs of recession. Add to that the Great Resignation, a movement of workers leaving their jobs because they feel underpaid, overworked or unappreciated, and those factors are putting businesses in the position of raising costs to attract, train and retain their staff.

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