Google Page Experience Algorithm Update
In May 2020 Google announced that page experience signals would be included in Google Search ranking. Page Experience Algorithm will launch mid-June 2021
The new page experience signals combine Core Web Vitals, mobile-friendliness, safe-browsing, HTTPS-security, and intrusive interstitial guidelines. Core Web Vitals, which can be viewed in Google Search Console gives you an overview of how your site is doing. Once you've identified issues then head off to PageSpeed Insights which will help you as you fix any Core Web Vitals issues that you have uncovered.
Coincidentally; Core Web Vitals reports are based on template-level which is more valuable than reporting on a URL basis. Templates are pretty synonymous across various URLs.
So in other-words; if you fix your template it will automatically fix most of the reported URL issues.
Further more - Webmasters who take zero steps to improve the Page Experience will likely see a drop in rankings, a shift in rank and a dip in engagement metrics − such as higher bounce rate, less time on site, etc. This is all relative to Page Experience.
Google had the following to say:
We’ll begin using page experience as part of our ranking systems beginning in mid-June 2021. However, page experience won’t play its full role as part of those systems until the end of August. You can think of it as if you’re adding a flavoring to a food you’re preparing. Rather than add the flavor all at once into the mix, we’ll be slowly adding it all over this time period.