Millions of Americans rushed to retire early during the early days of the pandemic, but it appears high inflation and recession fears may have brought that trend to a dead halt.

In a new survey, personal finance software company Quicken reports what many advisors have been saying anecdotally this year: that U.S. workers have put the kibosh on plans to retire early and, in an about face, are rethinking, delaying or undoing their retirement plans.

Forty-eight percent of those surveyed who had planned to retire this year are reconsidering or have put that plan on hold, Quicken reported. Another 25% of people age 58 to 74 who were not planning on retiring in 2022 are now considering a further delay in retirement.

"Through the end of 2021, we were in an unusual environment with plenty of jobs, a buoyant stock market and tame inflation. In 2022, it's a different story," Eric Dunn, Quicken CEO, said in a prepared statement. "Given our current economic conditions, it's more important than ever to have a financial plan and manage your spending wisely."

This isn't the first indication U.S. workers are worried about leaving their jobs too son.

In June, BMO Harris Bank reported in its quarterly Real Financial Progress Index survey report that 25% of U.S. workers said they are delaying retirement because of inflation. The survey also found that 60% of those between 18 and 34 reduced savings contributions because of rising costs and expenses.

The new trend toward retirement delays represents a stark departure from last year, when, in October, the St. Louis Federal Reserve issued a report that said more than three million U.S. residents had gone into early retirement since the start of the pandemic. At that time, Fed researchers said they expected the trend to continue. But since that time, with gas prices hitting the $5 per gallon mark and consumers suffering sticker shock whenever they go to the supermarket, inflation and recession fears have become pervasive.

Now, economists say many of those early retirees are going back to work. In May, for example, the Washington Post reported that an analysis of U.S. Department of Labor data by employment website Indeed found that about 1.5 million U.S. workers re-entered the workforce over the past year.

In the Quicken survey, those considering delaying retirement or unretiring said it was because of inflation (named as a reason by 65%), stock market declines (cited by 45%), rising interest rates (named by 30%) or their partners’ income or job getting disrupted by the economy (named by 12%).

Half of those surveyed who had planned to switch jobs this year are reconsidering or have put those plans on hold, Quicken said.

"When asked what has given employees hesitation about changing jobs in the last six months, 40% said gas prices, 30% said the potential for recession, 12% cited rising interest rates for homeownership, and 9% said rising interest rates for student loans," the company said.