The current economic conditions in the U.S. are also affecting Wall Street firms, where some workers will see bonus cuts with the potential for layoffs.
Neel Kashkari of the Federal Reserve Bank of Minneapolis said Sunday on "Face the Nation" that their focus is still on skyrocketing inflation even as a recession hits.
The Pew Research Center found that many of those who left the workforce during The Great Resignation are enjoying higher wages.
Treasury Secretary Janet Yellen said that a key indicator of recession may not apply to the current economic conditions.
Startup companies are struggling to get the funding necessary to get off the ground amid uncertain economic circumstances.
Bezos vs. Biden: Twitter Users React To Amazon Founder Calling Out President Over Gas Prices, Inflation
President Biden faces a lot of criticism for his inaction on a wide range of issues while calling for action on Twitter.
The Atlanta Fed warned that a recession is already here, as many still assert that the U.S. economy is strong.
Both vehicle and gas sales significantly impacted May retail sales overall, driving the downturn for the month.
The average price for a gallon of gas across the U.S. now sits above $5, but some states stand out as the most expensive.