It is kind of deceptive and confusing when I read the employment updates and the current economic recovery news for the US. Some things are on the upward trend and maybe calls for celebration but with the main problem lurking darkly around, the joblessness and no-hiring – the middle class is in for a long haul. Whatever the analysis, here is what’s going around:

CNN Money reports:

Jobless claims in another surprise surge

The number of Americans filing for unemployment insurance for the first time jumped for the second week in a row, according to government data released Thursday.

There were 484,000 initial jobless claims filed in the week ended April 10, up 24,000 from an unrevised 460,000 the previous week, according to the Labor Department’s weekly report.

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Financial Times reports:

Dimon And Bernanke Upbeat On U.S. Economy (JPM)

According to a report by the Financial Times, Jamie Dimon , the head of JP Morgan Chase & Co. (NYSE: JPM), and Ben Bernanke, Chairman of the Federal Reserve, showed optimism over the state of U.S. economy on Wednesday and said that stronger businesses and consumer spending is harbinger of an economic recovery. Both Bernanke and Dimon used the same optimistic language at different venues, downplaying fears of a return to sluggish growth. The Remarks from Washington, where Bernanke testified before the Congress, and New York, where Dimon announced strong first-quarter results for JP Morgan, helped the markets to move higher on Wednesday.

The Dow Jones industrial average crossed the psychological mark of 11000, moving to 11,123 and the S&P 500 crossed the critical 1,200 marks. Stronger-than-expected retail sales in the month of March have resulted in a positive mood. However, Bernanke was more cautious than Dimon in expressing optimism for the economy. In his testimony before the Joint Economy Committee in Congress, Bernanke predicted “moderate economic recovery” due to higher spending by businesses and consumers. He had slightly upbeat outlook on the economy than in the past.

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 Financial Times reports:

European Central Bank warns of global imbalances threat

Distortions in the global economy that provided the backdrop to the financial crisis threaten to widen again and upset the worldwide recovery, the European Central Bank has warned.

In unusually blunt language, the ECB has made clear its fear that governments are not doing enough to put the global economy back on a sustainable growth path – despite international policy initiatives in the past year.

“At the current juncture, global imbalances continue to pose a key risk to global macroeconomic and financial stability. The stakes are high to prevent a disorderly adjustment in the future that would be costly to all economies,” it concludes in a special article in its monthly bulletin published on Thursday.

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Speedy Recovery: India’s Job Market Heats Up

According to a report by the Associated Chambers of Commerce & Industry (Assocham), the Indian economy will create 87.37 million new jobs by 2015. The study was released in March by the secretary of the Planning Commission, which gave the projections an official seal of approval.

According to Assocham’s survey, the most significant growth will come from the manufacturing sector, which will add 32% (27.88 million) of the new jobs. Trade will be next with 24.24 million jobs, following construction with 15.13 million. Tourism-related employment, information technology (IT) and IT-enabled services (ITeS), and financial services will also grow. The weak spot is agriculture, which will be stagnant. “Most of corporate India — including foreign organizations — is witnessing a resurgence,” says Sandeep Chaudhary, leader of human retargets outsourcing firm Hewitt Associates’ performance and rewards consulting practice in India.

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