We remember when Nixon declared 7% unemployment as the "new zero." Here we go again !!

The new face of the American recover is seen in the response of industry to economic demands and its concern over the socialism of the New Marxist Regime - in a word, the new face of industry is "doing more with less." The maximization of inventories, equipment and labor results in higher profits, less labor costs and a continued sense of independence in the fact of a socialist minded Washington. --- jds

The folks at Invertors Daily has this to say:

New Jobless Claims Jump, Factory Output Rises

By IBD STAFF AND WIRE REPORTS Posted 02:45 PM ET

New claims for jobless benefits jumped last week for the second straight week, the Labor Department said Thursday, suggesting that employers remain reluctant to hire despite signs that the economic recovery is strengthening.

Industrial production edged up in March and two early reports on April manufacturing activity pointed to further gains in a sector that has helped pull the economy out of a deep recession.

First-time claims for unemployment benefits rose by 24,000 last week to 484,000, the highest level since late February, Labor said. Economists had predicted claims would fall to 440,000. In the prior week, claims rose by 18,000 to 460,000.

A government analyst, however, said both weeks' figures were distorted by difficulties in adjusting for seasonal variations surrounding the Easter holiday, which falls on different weeks each year.

Meanwhile, industrial production edged up 0.1% in March, the ninth straight increase, the Federal Reserve said. Analysts had expected a bigger 0.7% gain, but activity was held back by the biggest drop in utility output in four years as warmer spring weather hurt demand.

Manufacturing output, however, rose a healthy 0.9%.

"Soaring manufacturing output makes it clear the recovery is fully entrenched," Joel Naroff, president of Naroff Economic Advisors, said in a note.

Also Thursday, the New York Federal Reserve's Empire index of New York-area manufacturing jumped nine points in April to 31.9, the ninth straight month above zero, which indicates expansion. The Philadelphia Fed's mid-Atlantic manufacturing index rose 1.3 points to 20.2.

The gauges give an early snapshot of monthly manufacturing activity nationwide.

Stocks seesawed after the reports. At 2:19 p.m. Eastern, the Dow industrials and S&P 500 index rose nearly 0.2% while the Nasdaq composite climbed 0.4%.

Jobless claims have gradually fallen from a peak of 651,000 in March 2009, during the depths of the recession. But they remain above the level of 425,000-450,000 that economists say signals that the economy is creating more jobs than it's losing.

The four-week average rose by 7,500 last week to 457,750, the highest since mid-March. Also, the number of people continuing to collect jobless benefits after an initial week of aid rose to 4.64 million from 4.57 million.

Employers added 162,000 jobs in March, the most in three years, but the unemployment rate stayed at a near 26-year-high of 9.7%. Analysts worry that persistent high unemployment will hold back consumer spending, which accounts for 70% of economic activity, and dampen the recovery.

Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that he's optimistic about the durability of the economic recovery. But he warned that it will take a long time to recover the 8 million-plus jobs lost during the recession.

On a positive note, the National Association of Home Builders' housing market index rose four points in April to 19, the highest since September, as buyers emerged to take advantage of tax credits due to expire at the end of this month. Readings below 50 indicate pessimism