FED Changes Q2 Job Growth Estimate From 1,121,500 Down to 10,500. An Unbelievable 10,600% Difference.

https://www.philadelphiafed.org/-/media/frbp/assets/surveys-and-data/benchmark-revisions/early-benchmark-2022-q2-report.pdf

Seems like this should be major news but I haven’t heard a peep about it. Considering one of the main arguments against recession has been the strong labor market shouldn’t this cause a rethink of that entire position? Also, how could they have possibly gotten the numbers this catastrophically wrong?