August jobs picture will be released this week; we still feel that job growth will moderate as the year comes to an end.

Last week we pondered the employment situation. This week we get an early look at the August jobs picture because the release comes before Labor Day. Thus, this weekend coming up will be referred to as Labor Day weekend for more than one reason. While we are very curious as to whether the strong job growth of this year will continue, we are also wondering where our summer has gone.

Is it just us, or does it seem like the summers seem to come and go more quickly? A few years ago, we blamed the pandemic because so many of us spent the summer inside. But now that we are out and about, shouldn’t the clock more forward more slowly? Surely, we can pass a law to extend summer just a bit more. On the other hand, global warming seems to be extending summer weather, so perhaps summer will not really end until fall comes on September 22.

Regardless, school is starting up again and vacation season is ending. Now we will get to see if the real estate market picks up again. And going back to the employment situation, we will be interested to see if there is a revision of the surprisingly high number of jobs added last month. Going forward, we still feel that job growth will moderate as the year comes to an end, as we have already recovered the jobs lost during the pandemic. Though even a stable economy needs job expansion to accommodate our population growth.