I use the word Normal because that is what we want. Back to normal jobs reports post pandemic.

The August ADP Employment report showed 177,000 jobs created, which was weaker than the 200,000 expected. But July was revised higher from 324,000 to 371,000.

Job Stayers saw their annual pay increase 5.9% down from 6.2% and Job Changers saw an average increase of 9.5% but this was down from 10.2%.

You can kind of read the tea leaves with this report. Employers want to hold onto their employees and those same employees are not receiving as much benefit but switching employers.

There is a weakness in the labor market as large companies like Adidas, Adobe, IBM and Salesforce are “quiet cutting” their employees. This means reassigning workers with lower pay and lower title so they can trim costs.

It’s a strong indication we are getting back to normal and all the post pandemic hiring is subsiding.

I was fortunate to be a contributing writer for Mia Taylor for the BankRate article below. Enjoy.