The Labor Department reports April jobs surge by 288,000, while the unemployment rate drops to 6.3% as the extremely cold weather effects on the economy begin to dissipate. Pension Partners chief investment strategist Michael Gayed tells TheStreet's Joe Deaux that investors should beware of the great headline numbers, though, because the details suggest a much weaker picture. With that said, February and March jobs numbers revised higher, making Friday's report the best since 2013.

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