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?

Home prices dipped briefly, but igns are that prices are headed upward again. According to the National Association of Realtors, home prices are projected to increase a third month in a row.

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.

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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.

This article originally appeared on USA TODAY: May 2023 job report gives mixed signals of looming recession