The latest data shows that the number of job vacancies in the U.S. reached 7.769 million in May, significantly exceeding economists' previous expectations of 7.3 million. The rise in this figure has surprised the market, but at the same time, other indicators suggest that the labor market may be cooling down.

Data from the same period shows that the number of jobs recruited in May decreased by 112,000, down to 5.503 million; the number of layoffs also decreased, dropping by 188,000 to 1.601 million. Together, these figures paint a complex picture of the labor market.

Although an increase in job vacancies is often seen as a sign of a strong economy, the slowdown in hiring activities seems to indicate that companies are becoming more cautious in their employment decisions. Analysts point out that this cautious attitude is likely stemming from the current uncertainty in economic policies, particularly in terms of trade policy.

Currently, the 90-day suspension of reciprocal tariffs implemented by the U.S. government is about to end. Many economists believe that the direction of this policy after its expiration on July 9 is still unclear, making it difficult for businesses to formulate long-term operational plans and employment strategies.

This uncertainty not only affects companies' hiring decisions but may also have broader implications for the overall economy. As trade policy uncertainty persists, we may see more businesses adopt a wait-and-see approach, which could further impact the dynamics of the job market.

Overall, although the job vacancy data for May was surprisingly strong, the weak performance of other labor market indicators seems to suggest that the economy may be entering a more cautious phase. Data in the coming months will more clearly show whether this trend will continue and what kind of impact it may have on the overall economy.