RECOVERY?  WHAT RECOVERY? – AT 8:51 A.M. ET:  The economy continues to struggle.  The labor reports out today continue the warning signs seen in recent weeks.  From The Wall Street Journal:

New applications for unemployment benefits stayed nearly unchanged from last week, showing that the labor market's recent improvement may be slowing.

Initial jobless claims decreased by 1,000 to a seasonally adjusted 388,000 in the week ended April 21, the Labor Department said Thursday. Economists surveyed by Dow Jones Newswires predicted that 376,000 new claims would be filed last week.

It was the third straight week the level topped 385,000 -- claims haven't stayed that consistently high since November.

And...

In March, U.S. employers added 120,000 nonfarm jobs, half of what they added in February.

COMMENT:  It takes 150,000 new jobs each month just to keep up with population growth.

We have a bit more than six months to go before the election.  That really isn't much time for the economy to turn around and show the kind of dramatic progress that would help Obama get re-elected.  The economy is Romney's issue.  Now he has to shape it and present a clear, convincing economic vision in order to overcome the reluctance of many Americans to change horses. 

April 26,  2012