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Jobs jump in April (again)
The unemployment rate ticks down to 5.6%. But the strong numbers also raise fears of an interest-rate increase.

For the second month in row the economy added many more jobs than economists and Wall Street expected, indicating the economy is on a tear.

Nonfarm payrolls rose 288,000 in April, while March's rise in payrolls was revised up to 337,000 from 308,000. The April unemployment rate edged down to 5.6% from 5.7% the month before. Economists, on average, were expecting the economy to add 150,000 jobs, with the unemployment rate remaining steady at 5.7%, according to a survey by CNBC and Dow Jones. February's payroll rise was also bumped up.

The service sector continued to pick up the most steam, adding 246,000 jobs last month. But the beleaguered manufacturing sector also impressed, adding 21,000 jobs, with March revised up to a 9,000 gain from unchanged. Before that, manufacturing lost jobs for 43 consecutive months.

"This economy is in full swing, the job market is right there with it," Mark Zandi, chief economist at Economy.com, told CNBC's "Squawk Box.""It's almost like a light switch went on in boardrooms across the country in the last two or three months. Businesses are confident, they're out hiring and factories are hiring. It's just proof positive that the job market is back."

"It's obviously a very strong number,'' David Wyss, chief economist at Standard & Poor's, told Reuters. "It's good for consumers, but it's a little sign of inflation to the Fed.''

The labor market has been the missing piece in the economic puzzle, lagging behind strong overall growth. For some time, economists pointed to strong productivity numbers, saying they indicated that employers were able to maintain the same amount of output without hiring new bodies.

But the job market finally bucked that trend two months ago, and the March and April back-to-back monthly gains are the biggest in four years.

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Whats that light at the end of the tunnel Mr. Kerry?

I believe that its the train thats about to run you over.