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Job loss in the 21st century

Summary/Abstract: In the past, job loss usually meant that one of several fairly well understood things had happened. One was simply that a person was not doing the job adequately and was fired. Another possible reason was that the company did not have enough work for its employees, so they got “laid off” sometimes only temporarily. And another fairly common reason was that the company had gone out of business. More recently, a new type of job loss has come on the scene. Many businesses are now “downsizing” in an attempt to become more efficient, cut expenses, or in some cases simply to make more short-term profits. Employees are caught in a cultural upheaval. “Job security” is a thing of the past. People entering the job market today are told to expect several career changes, not necessarily of their choosing, during their work lives.

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