WASN'T UNEMPLOYMENT SUPPOSED TO DROP? – AT 9:15 A.M. ET:  Added to the grim economic growth figures cited in the post just below is the new jobs report.  Americans aren't exactly flocking back to work:

WASHINGTON (AP) — More people sought unemployment benefits last week, the second rise in three weeks, and a sign that the recovery in the job market has been slow and uneven.

The Labor Department said Thursday that applications for unemployment benefits jumped 25,000 to a seasonally adjusted 429,000 for the week ending April 23. That was the highest total since late January.

The four-week average of applications, a less volatile measure, rose to 408,500, its third straight rise and the first time it has topped 400,000 in two months.

Applications near 375,000 are consistent with sustained job creation. Applications peaked during the recession at 659,000.

April 28, 2011