The issue of US presidential election is hot and happening. Many people are keeping an eye on it for various reasons. We are always tracking it in hope of predicting the change in the job market after the elections. Different candidates are proposing different policies and plans which will affect creation of jobs in various ways. The main point boils down to the question “Who can give America more Jobs – Hillary or Trump?”
To form a picture of the answer, we take a look at a research published by Moody’s Analytics. It is a reputed research firm headed by well known Republican economist Mark Zandi. He is famous for his micro-economic analyses and has also testified before Congress. According to the report, America is going to benefit if Hillary wins. Trump does not have any comprehensive economic plan and only has talked of creating more jobs. His website also does not reveal any information on the subject.
The Moody’s report proposes that if Hillary’s policies are adopted by Congress, there will be growth of 1.7% of US GDP. In 4 years time this will create an additional 3.2 million jobs. Her policies have other benefits too. The tax deducted annual income of an US household will rise by $ 2,000. Her economic plans increase the tax on affluent Americans and businesses and aims to use the money for infrastructure development. That would mean more jobs in building roads, industry and other areas.
Trump’s plans seem damaging as he plans to lower or remove the tax for the ultra-affluent. The Moody’s report predicts a recession that will go on for 2 years from 2018 if Trump’s policies are adopted. The standard of living of a typical American family will also go down. He has also constantly made racist, anti-immigrant comments on the issue of foreign labor. The research agency considers the probable damages expected by implementation of Trump’s policies to be “stark” and “fiscally unsound.” It is really a cause of apprehension what will happen if trump comes to power. If his proposed policies (though they are quite unclear at this moment) do take effect, America will end up losing many jobs.