Consulting theluckycorner.com, Jackie Condon and Jay R. Smith were in Growing Pains which finished filming on March 15, 1928. Then they were out of the cast until Election Days which was filmed from July 19 to August 24, 1928. That was it for Jackie, while Jay R. was also in Noisy Noises, filmed from October 29 to November 10, and a final appearance in Moan & Groan Inc. in September 1929. So the picture could well be from 1928 if it was between March 16 and July 18, or after November 10. Dates may not be exact due to films being released several months after they were filmed, so publicity photos may not line up with those dates.
There are other hints to '28 that come from watching the films way, way too closely. Farina's still missing some teeth here, Jean's wearing a costume that she didn't wear (it probably no longer fit) in '29, etc.