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Monday, April 13, 2009

America's hidden unemployment crisis

Over the past decade, U.S. businesses increasingly have relied on contract workers as a way to keep a lid on health care and retirement benefit costs and to give them more flexibility to adjust payrolls as conditions change. Now, with the American economy flashing code red, companies from Wall Street to Silicon Valley are casting off temporary workers and freelancers left and right, typically without any severance pay.

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