U.S. job openings unexpectedly increased in May, but the labor market shows signs of fatigue.

Jin10 Data reported on July 1 that the U.S. JOLTs job openings in May reached 7.769 million, far exceeding the 7.3 million expected by Reuters survey economists. The number of hires decreased by 112,000 to 5.503 million, while layoffs fell by 188,000 to 1.601 million. The unexpected increase in job openings in May, coupled with the decline in hires, further indicates that the labor market has entered a slowdown phase amid uncertainties over the Trump administration’s imposition of import tariffs. The current 90-day suspension period for reciprocal tariffs is about to end. Economists point out that the policy direction after the Trump administration’s 90-day tariff suspension period ends on July 9 is unclear, making it difficult for businesses to formulate long-term plans.