U.S. jobless claims rise; planned layoffs surge

[brentspeak]

Source: Reuters

The number of Americans filing for unemployment benefits rose more than expected last week, posting the biggest gain in more than a year, but the underlying trend continued to point to a strengthening labor market.

Another report on Thursday showed a 35 percent surge in planned layoffs by U.S.-based employers last month. Most of the announced job cuts were concentrated in the energy sector, which is reeling from low oil prices that have hurt profits.

Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 274,000 for the week ended April30, the Labor Department said. Last week's increase was the largest since February of last year.

"We are assuming the move in claims is largely technical. By all accounts, businesses cannot find the skilled labor they need," said Chris Rupkey, chief financial economist at MUFG Union Bank in New York.

Read more: http://www.reuters.com/article/us-usa-economy-idUSKCN0XW16V

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Does the following make any sense to you? Doesn't to me. "We're laying you skilled workers off because, uh, we can't find enough skilled workers."

"We are assuming the move in claims is largely technical. By all accounts, businesses cannot find the skilled labor they need," said Chris Rupkey, chief financial economist at MUFG Union Bank in New York.

[raging moderate]

1. Total Obfuscation, Mr. Rupkey. All this is orchestrated racketeering.

You mean you want to find more totally obedient, less expensive drones to do your dirty work for you.

[HeartoftheMidwest]

2. Clarification:

"We are assuming the move in claims is largely technical. By all accounts, businesses cannot find the skilled labor they need," said Chris Rupkey, chief financial economist at MUFG Union Bank in New York.

Shorter Rupkey: "We laid off everyone at the top of their payscale, but we're having trouble finding younger workers who will work for nothing."

[TexasBushwhacker]

3. Overqualified = We don't want to pay you what you're worth n/t

[jtuck004]

4. In the country I came from we invested in people to pursue our strategic vision. The "Ruskies" flew

a spaceship overhead, (the first time they did a barrel roll over us, btw) and we as a collective nation shit ourselves. Then we cleaned ourselves off and began to invest in education, experimentation, research.

We even elected a President who said we were going to the Moon. The people said "How?". He said "I don't know, but lets spend $7 billion and get there".

We did. It was inelegant at times, the nation was and is still denying opportunity to huge swaths of our neighbors, but we built things.

If I run a business, and need something, I invest in it, and get it.

The fella in the article wants things without paying for them. Or wants your taxes to do it for him. Lazy ass thief.

[The_Casual_Observer]

5. Oil companies are hurting boo hoo.

[Populist_Prole]

6. Man; talk about a non-sequitur!

But I guess it makes sense inside their sterile bubble.

[brentspeak]

7. self-kick