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To “feel the pinch” is to feel negative economic effects. This is often used with rising costs. Energy prices have gone up and consumers are feeling the pinch. That means, consumers are noticing the higher prices–and it’s making them uncomfortable.
When workers go on strike, they don’t get paid. Most workers can go a few days without a paycheck, but after a few weeks, striking workers start to feel the pinch. (They feel the negative effects of not being paid.)
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