Do I have any legal recourse for their passing by me to fill the position?
No. Unless you were hired as a contracted employee
where they guaranteed the position in writing, you are not entitled to notice or reinstatement. As an "at-will" employee you are not guaranteed reinstatement if you were let go. There is also no discrimination here, since they specifically said this was economic-base and there was no immediate posting of his position.
You are free to reapply and under the EEOC all candidates are to be treated equally for the position.
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