BACKGROUND The consequences of job loss for subjective well-being are widely known. Yet, the subjective well-being of parents who fear that they might lose their jobs has received much less attention. OBJECTIVE We analyze how changes in job insecurity are associated with parental subjective wellbeing. We further provide insight into the impact of parenthood and varying childbearing demands, as well as potential accumulative dynamics. METHODS Using data from the Swiss Household Panel (SHP) (2000-2016; N = 7,167), we apply fixed-effects models to estimate deviations of well-being from the individual-specific mean. Our analytic sample comprises a total of 43,276 person years. RESULTS We replicate the overall well-being response surrounding the experiences of job insecurity and unemployment, and we provide evidence for variation in subjective wellbeing over the parental life-cycle. CONCLUSIONS The divergence in the well-being responses around raising a newborn or infant versus older children may affect fertility timing and the optimal number of children to have. The results also reveal gender-specific effects and hint at the new role of women in paid labor, but they indicate that the 'old' role of men as breadwinners has not changed dramatically.