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.

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.

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.