We consider a household to be job sensitive if at least one family member is actively seeking full-time employment (job seekers) or if the family is concerned that one of its members will be laid off within the next year (concerned).
50% of U.S. households are currently job sensitive, according to the TIPP Poll completed in late April. Here are critical job-related stats from the survey:
- 41% have at least one member looking for a full-time job (job seekers)
- 30% are concerned that a member of the household may lose their job in the coming 12 months (concerned)
Job sensitivity has been steadily descending from its recent peak of 61% since November 2020. It posted a lower reading in five of the past six months.
Why Is Job Sensitivity Important?
The recent jobs report, released last week, showed that employers in the United States added 266,000 jobs, significantly less than the consensus estimate of 978,000 jobs. The gap between the consensus estimate and the actual value is the largest ever recorded.
Jobs are critical to the success of any economy. As we emerge from the depths of the pandemic, we want the economy to post robust job growth.
Households make significant financial commitments based on their confidence in their members' ability to earn money, ultimately affecting consumer spending. Healthy job sensitivity numbers reflect an environment poised for rapid economic growth.
The Overall Trend
The share of households with at least one member looking for full-time work has been hovering around 41 percent recently and has not changed since March.
The average job sensitivity was 24% for the twelve months before the pandemic. Since March 2020, the average job sensitivity has climbed sharply to 54%.
On a more positive note, the percentage of concerned households has been declining steadily, from 42% in November to 30% in May. The stimulus and Americans' hopes for an economic recovery are helping to alleviate concerns.
By The Numbers
The table below shows job sensitivity for different demographic groups sorted in descending order.
Upsides and Downsides
While 40% of Americans in our poll are fully vaccinated, 26% are still hesitant and don't plan to vaccinate soon. According to virologists and infectious disease specialists, herd immunity will put an end to this raging pandemic. Vaccination is the most efficient and safest method of achieving herd immunity. To get there, experts believe that more than 70% of the population must be immunized. If the U.S. will achieve herd immunity soon is unknown.
On the plus side, half of all Americans are comfortable regularly working in the workplace.
On the negative side, the proposed taxes during a pandemic may be a burden on an economy that is still in its early stages of development. New taxes will almost certainly stifle growth and hiring. It encourages employers to move jobs offshore.
The influx of Central Americans at the southern border may exacerbate the spread of Covid.
- Prominent Democratic National Committee members urged President Joe Biden to relieve sanctions on Iran as the window closes for a return to the nuclear deal.
- The letter follows the fourth round of indirect talks between the Biden administration and Iran's government in Geneva, mediated by European Union signatories of the original agreement.
- The original deal does not bar Iran from developing conventional ballistic missiles, drones, or cruise missiles, allowing Tehran to continue developing such weapons.
- Publicly, Iran's leaders have refused to negotiate over matters outside the scope of the 2015 deal.
- A deal could potentially be reached in Vienna "in the next few weeks," a senior State Department official told reporters last week.
- The growing China-Pakistan nexus raises the threat to India. Their strategic and territorial interests have been cemented by the China Pakistan Economic Corridor (CPEC).
- With the flow of Chinese military power into Pakistan, China veritably straddles India, with its armed forces present on India's northern, eastern and western borders.
- This not only raises the real specter of a 'two-front war but positions China to play a role in Kashmir and the region.
- It needs to be kept in mind that, since 2010, Pakistan is the only country with which China has an "all-weather strategic partnership."
- The relationship is also the only one described as: "higher than the highest mountains, deeper than the deepest ocean and sweeter than honey!" The only other country with which China has a special category of strategic partnership is Russia.
- The decision comes as India has delayed delivery of the Covishield vaccine in recent weeks.
- Bangladesh will receive a significant consignment of China-made vaccine doses for the pandemic.
- This will be the first time that Bangladesh will receive the Chinese vaccine in such a large quantity since the pandemic last year. India has delayed delivery of the Covishield vaccine in recent weeks.
- Bangladesh and China have been in talks, but disagreements have arisen over the vaccine's funding.
- China says it will set up a "line of separation" at the summit of Mount Everest to prevent climbers from mingling with others from Nepal.
- It comes less than a week after mountaineers and authorities at base camp in Nepal warned of rising cases of Covid among climbers.
- Everest stands on the border between China and Nepal, and mountaineers climb it from both sides.
- At present, tourists without a permit are forbidden to enter the Chinese base camp, and the country has banned foreign nationals from climbing the mountain.
- However, Nepal, which relies heavily on income generated from Everest expeditions, has allowed foreign climbers, with about 400 permits allocated this season.
- A mysterious beluga whale was dubbed a spy when he appeared off Norway's coast wearing a Russian harness. Two years on, little more is known of the animal's past, but now activists are concerned for his future welfare.
- The whale's first known sighting in Norway came at the end of April 2019, when a blob of white flashed past fishermen near the islands of Ingoya and Rolvsoya.
- This was strange because belugas are rarely seen this far south of the high Arctic. Stranger still was the harness wrapped tightly around the whale's body.
- Russia has a history of training marine mammals such as dolphins for military purposes. The Barents Observer website has identified whale pens at three different locations near naval bases in Murmansk's northwest area.
- According to the Norwegian Orca Survey since July 2019, he has been a "free-swimming" whale. A campaign group led by an American filmmaker wants to create a sanctuary for him and is urging Norway to support it.
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