- Among the respondents who were employed four months ago, 97.3 percent were still employed in March 2021, compared to 95.3 percent in November 2020 and 89.1 percent in March 2020. The increase was primarily due to a decline in transitions out of the labor force (which fell to 1.3 percent in March 2021 from 4.0 percent in November 2020).
- The proportion of individuals who reported searching for a job in the past four weeks rebounded to 20.3 percent in March 2021 from 17.8 percent in November 2020. The increase was primarily driven by women.
- The average expected likelihood of staying employed over the next four months, for those who are currently employed, increased to 96.1 percent in March 2021 from 94.2 percent in November 2020. This is the highest reading since the start of the pandemic in March 2020.
- The average expected likelihood of working beyond age 67 declined to 32.9 percent in March 2021, equaling its lowest reading since the series’ start in March 2014, from 34.9 percent in November 2020. The decline was most pronounced for women. The average expected likelihood of working beyond age 62 remained essentially unchanged.
The SCE Labor Market Survey is fielded every four months as a rotating module of the Survey of Consumer Expectations (SCE). The data are updated online three times per year as results come in, and an annual New York Fed press release, issued following the July survey, highlights notable changes and trends.