The household survey is simply insane. Do not pay any attention to it. Do not make eye contact. Just calmly walk away. It’s simply not believable that the labor market contracted so violently according to one survey, while at the same time a separate survey of business establishments showed strong payroll growth of 288,000. Consider this: The jobless rate fell because 733,000 fewer people were considered unemployed. That’s the largest one-month decline since 1949, when unemployment fell by 920,000 when two large national strikes concluded. Nothing like that happened in April.