The number of Americans filing new applications for unemployment benefits fell to an 11-month low last week, pointing to a stable labor market, though a slowdown in hiring has led some laid-off workers to experience long bouts of joblessness.

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.

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.

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. Openings rose to 8.1 million in November from 7.8 million in October,

The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Tuesday also showed layoffs remained low and workers were reluctant to quit their jobs. There were 1.13 job openings for every unemployed person,