Latest reports signal struggling economy

? New claims for jobless benefits clocked in at the second-highest level of the year and manufacturing shrank, fresh signs that the postwar economy is still struggling.

Although new claims for unemployment insurance dropped by a seasonally adjusted 13,000 for the work week ending April 26, the level of claims — 448,000 — was still the second-highest this year, the Labor Department reported Thursday.

For 11 straight weeks, jobless claims have been above the 400,000 mark, a level indicative of a weak labor climate.

Manufacturing, meanwhile, not only failed to pick up in April, but fell for the second straight month.

The Institute for Supply Management’s manufacturing index fell to 45.4 last month, slipping from 46.2 in March.

A reading below 50 means manufacturing activity is contracting. A reading above 50 indicates the industry is growing.