in a row in a welcome sign that more people are actively seeking work as job opportunities and vaccinations increase. but we are also hearing anecdotal accounts that many people face virus - related impediments in returning to full - time work, and many businesses face hiring challenges. with less than one - in - four individuals ages 18 to 64 fully vaccinated at the end of the survey period for the april jobs report, health and safety concerns remain important for in - person work and for people relying on public transport, and childcare remains a challenge for many parents. 6 childcare remains an impediment for many parents because the return to fully inperson school is still incomplete and childcare options are still limited in many areas. 7 at the time of the april jobs report, nearly two - thirds of students had yet to return to fully in - person schooling, and this share had only increased by 8 percentage points since march. 8 consistent with this, the labor force participation rate of women ages 25 to 45 was unchanged in april, after an increase in march that coincided with a surge in education hiring and school reopening. similarly, april saw a small increase in the number of women who reported that they wanted a job but were out of the labor force for the share of people ages 18 to 64 years old who are fully vaccinated is calculated using the percent of people fully vaccinated on april 17 by age group according to the cdc ’ s covid data tracker, available at https : / / covid. cdc. gov / covid - data - tracker, and then weighting each age group based on the u. s. census bureau ’ s 2019 population estimates, available at https : / / www2. census. gov / programssurveys / popest / technical - documentation / file - layouts / 2010 - 2019 / nc - est2019 - agesex - res. csv, for the corresponding age group. see the return to learn tracker, a collaboration of the american enterprise institute and the college crisis initiative of davidson college : https : / / www. returntolearntracker. net. see also lauren bauer ( 2021 ), “ mothers are being left behind in the economic recovery from covid - 19, ” brookings institution, up front ( blog ), may 6, https : / / www. brookings. edu / blog / up - front / 2021 / 05 / 06 /

have had measurable effects, we study those effects. for much of the post - crisis period, our focus was on developing policy recommendations to address vulnerabilities made apparent by the crisis. now, however, with nearly all of the postcrisis reform agenda complete, the fsb needs to put more of our resources into identifying new vulnerabilities in a financial sector that continues to evolve and to studying the effects of the many reforms that have been enacted. let me start by discussing vulnerability assessment. the reforms that have been implemented over the past decade have changed the financial system for the better. however, that does not mean we are immune from future financial crises. it means that we have boosted the financial system ’ s resilience to some of the types of shocks and vulnerabilities that precipitated the crisis. to be sure, some of these measures, like higher bank capital and liquidity requirements, after effective against a wide range of shocks. however, we cannot be complacent and assume that we are safe from all shocks. as a result, the fsb has decided to undertake a review of its framework for assessing vulnerabilities to ensure that we are at the cutting edge of financial stability vulnerability assessment. this work will be undertaken by our committee charged with assessing vulnerabilities under the leadership of fsb vice chair klaas knot of the dutch national bank ( de nederlandsche bank ). this should be a framework that starts from first principles and benefits from substantial dialogue with nonbanks as well as banks, regulators, and other relevant official bodies. there is a lot that we can draw on. the crisis led to an explosion of work in this area aimed at improving the ability of authorities to identify financial vulnerabilities in order to be able to take appropriate action in a timely fashion. i trust that the framework will harness the strength of the broad and diverse membership of the fsb, that it will be forward looking, and that it will be flexible enough to handle a financial system that will continue to evolve over time. this will not be easy — developments like the emergence of crypto - assets may challenge any framework — but that makes the goal of a robust framework all the more important. evaluating the effects of reform finally, let me turn to the fsb ’ s evaluation of the effects of reforms that have been implemented. in the past few years, we have reached a point where many of the reforms have been