ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Amritpal Kaur Sandhu-Longoria | Investigative Reporter, Consumer Watchdog @AmritpalKSL | | | | |
Good morning, this is Amritpal Kaur Sandhu-Longoria with your Daily Money headlines. If you're happy and you know it, then have a Happy Monday. |
Is a recession happening or not? Well, employers added 339,000 new jobs in May, according to the monthly employment report, which may indicate, 'No.' On the other hand, the unemployment rate rose sharply and workweek hours declined. There are also concerning signs in the job market − a slower wage growth at 0.3%, workweek hours down to 34.3 from 34.4, and businesses becoming warier about bringing on new employees and holding on to workers they already have. |
It's a case of mixed messages as the Federal Reserve thinks about pausing or continuing interest rate hikes to cool the economy and inflation. |
The Fed helped the housing market cool off a bit. So, what's next? |
But there are a lot of moving parts. While high interest rates should mean lower housing prices, experts say lack of housing supply means demand can cause prices to increase. And with lending conditions tightened for builders and interest rates for loans as high as 10%, it may exacerbate the availability. |
Despite low inventory, it is expected some homeowners may list their homes this summer and into the fall. |
đź“° More stories you shouldn't miss đź“° |
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. | | | | Nine years after Apple's Tim Cook became the first publicly gay Fortune 500 CEO, there are still very few openly LGBTQ leaders in corporate America. | | | | More than 175 people got sick with norovirus during a recent Celebrity Cruises' sailing, the CDC said. | | | | Worker shortages are easing across the U.S. but remain more prominent in the South. The region accounts for most of the nation's deficit in employees | | | | Brooklyn-based Air Company is working to make power to liquid sustainable aviation fuel an option for airlines to power their flights in the future. | | | | While not everyone's happy with the bill, a default and a ratings downgrade woould have been catastrophic for the economy, jobs and the stock market. | | | | Some may hate a lot in the debt ceiling package, but economists say the plan's actually a good compromise that'll benefit everyone. Here's why. | | | | The housing market across the US is cooling down, but does that mean it's headed for a crash? Here's what experts expect to happen in 2023. | | | | Home Depot's pre-fabricated tiny houses range from about $4,000 to $40,000 but as always in the US housing market, there's a catch. | | | | Bed bugs were discovered at Hawaii's largest airport this past week, prompting gate closures and deep cleaning. | | | | A worker at the Wegmans market in Webster, New York, ripped off the company for more than $560,000 by creating fraudulent pharmacy refunds and pocketing the money. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
![The American housing bubble that wreaked havoc on the global economy was a long time in the making. Largely the product of exploitative lending practices that put people in homes they could not afford, the housing market bust dragged the median American home value down 37% — from a pre-recession high of $230,000 in 2005 […]](https://www.gannett-cdn.com/media/2018/10/27/USATODAY/usatsports/247WallSt.com-247WS-501448-housing-boom.jpg?crop=768,768,x299,y0)
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