That's because everyone discovered how little people who came to this country on H1B visas would take to do the work.
Unfortunately, they also discovered that many of those 'workers' didn't really know what they needed to know to do the job right --but they just didn't care.
Working as a contractor is great as long as the pay covers all the taxes and benefits you need to pay for yourself but most that I know couldn't do it AND support a family unless they are able to charge amazing rates.
And you know what else? You may be young, or not - I don't know - but many of us grew up, got our education and went for the jobs that would pay adequately, including overtime, and included benefits and had a pension. It wasn't an outrageous assumption when I started working, it was the norm. But then our CEO's at the time didn't make thousands of times per year what an average employee made. AND, believe it or not, the company I worked for had bad quarters now and then and the whole place didn't fall apart because the stock fell a few pennies -- I will never get over how things have changed so much that we are all now supposed to believe that every quarter can be a profitable one! How unrealistic can you be?!
Sorry. I sort of went off on a tangent there.
But I'm happy for you if you're happy with your situation. 
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