Core Insights - In May, the U.S. job openings unexpectedly increased to 7.769 million, surpassing the Reuters economists' forecast of 7.3 million [1] - The number of hires decreased by 112,000 to 5.503 million, while layoffs fell by 188,000 to 160,100 [1] - The increase in job openings alongside the decline in hiring indicates a slowdown in the labor market amid uncertainties from the Trump administration's tariffs [1] Labor Market Dynamics - The current 90-day suspension of reciprocal tariffs is nearing its end, creating uncertainty for businesses [1] - Economists highlight that the unclear policy direction post-July 9 may hinder companies' ability to make long-term plans [1]