U.S. job openings unexpectedly increased in November while hiring softened, suggesting the labor market continued to slow at a pace that probably does not require the Federal Reserve to be in a rush to cut interest rates.

U.S. job openings rose unexpectedly in November, showing companies are still looking for workers even as the labor market has cooled overall

President-elect Donald Trump is inheriting low unemployment after several years of strong postpandemic hiring, but he’s also confronting a weakening labor market in which fewer jobs are available and fewer companies are adding workers.

The latest Job Openings and Labor Turnover Survey (JOLTS) data paints a mixed picture of the labor market, with more job openings but fewer hirings. Mizuho Financial Group US chief economist Steven Ricchiuto joins Wealth with Brad Smith to share his outlook for the US economy and labor market during President-elect Donald Trump's return to the White House.

The number of Americans filing new applications for unemployment benefits dropped to an eight-month low last week, pointing to low layoffs at the end of 2024 and consistent with a healthy labor market.

U.S. job openings rose unexpectedly in November, showing companies are still looking for workers even as the labor market has cooled overall. Openings rose to 8.1 million in November, the most since February and up from 7.

Key Takeaways Job openings unexpectedly rose in November, surprising economists who had expected them to stay flat.Despite the uptick, the job market remained relatively stagnant, with layoffs and hiring staying low and fewer employees willing to quit.