economic pain
Refers to financial hardship, economic distress, or the negative impact of economic policies on people's livelihoods.
Tax increases bring economic pain to the people.
Economic pain from the recession is spreading.
More formal and emphasizes a difficult financial situation, while 経済的痛み is a broader, more emotive term for economic suffering.
Compound of 経済的 (economic) and 痛み (pain). The exact origin is uncertain, but it is a straightforward modern term used in economic discourse.