Macbook Pro Sound disappears when plugging or unplugging stereo mini jack

The sound on my MacBook Pro 2.3 GHz i5 running OS10.7.5 has a nasty habit of disappearing, seemingly at random when unplugging or plugging into the stereo mini jack. This happens regularly, probably about 10-15% of the time that I either plug or unplug the mini-jack. I've checked all system settings and the sort. It's not just one program's sound that disappears but rather sound via both the internal speakers and the mini jack. It’s as if all sound just “dies.”

None of the sound system preferences change when this happens and it's NOT linked at all to the computer going into or coming out of sleep mode. The only remedy I've found is a reboot, which restores the sound to normal but is horribly annoying. I don't have any memory purging software installed or anything like that either. I’m quite sure it’s not a mechanical issue with a bad connection on the connector either. After the sound goes, no amount of repeated plugging and unplugging restores the sound. The only remedy thus far is a reboot, which always restores the sound.

Anyone have any suggestions as to how I can make this stop? I'm pretty well versed with the Terminal utility too if there are any diagnostics that need to be run. I use Terminal every day.