Indeed Hiring Lab research director Nick Bunker sits down with Brad Smith on Wealth! to provide key insights into the state of the labor market and his top tips for job seekers.

"This is a labor market that's much cooler than what we saw two years ago. You can look at pretty much any indicator of the US labor market right now and it's either signaling a labor market that's about as hot as it was just before the pandemic or slightly cooler," Bunker tells Yahoo Finance. He notes that the Federal Reserve's interest rate cut will help keep the labor market in a "good spot."

Bunker looks to indicators like the ratio of job openings to unemployed workers as a way to gauge labor market conditions. He also points to the unemployment rate and quits rate as other indicators, noting that fewer people are leaving their jobs now than in 2021 as there are fewer job openings.

Bunker states AI is becoming an increasingly important tool for job seekers, explaining that the technology can help not only with resumes, but interview prep too.

While the job search can be grueling, he encourages jobseekers to lean toward sectors that are growing the most, like healthcare: "Especially if you're early in career, that's one that can you can shift towards in part because this has got long-term potential as well. This is something the US is increasingly spending money on."

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Melanie Riehl