A Look at the Job Outlook Under Trump
Prepare for these words on the morning of January 20: “I Donald J. Trump do solemnly swear that I will faithfully execute the Office of President of the United States…”?
To some, the prospect is invigorating. To others, it’s terrifying. In our world of social media, reality television and changing economics, the question is at least somewhat quantifiable. The numbers have been crunched on what’s likely in store for everything from GDP growth and the S&P 500 to tax rates and healthcare coverage with Mr. Trump's Brexit-esque victory on Election Day.
For individuals looking to change careers and companies looking to hire new talent and add everything from administrative to new staff, there are also questions to ask and figures to calculate.
Looking at both job seekers and growing organizations, the thought of a Trump Presidency can be exciting and looked at as entering a new frontier. Below, you can check out what we found, along with commentary from experts in each category.
The celebrity businessman adopted a populist message during his campaign that had more in common with Rick Santorum’s approach during the 2012 Republican primary than with Mitt Romney’s — coupling severe protectionist rhetoric with his unique image as a Washington outsider free from personal debts to special interests or party powerbrokers. This could open the floodgates for companies looking to grow and stay ahead of the curve. Indeed, Trump's Presidency could be a "kick in the butt" to the the job's and career's market. Gregory Autry, an assistant professor at USC’s Marshall School of Business, believes that manufacturing jobs, including high-tech manufacturing, will benefit from a Trump Presidency. The Trump years could also be a boom to industries like cyber-security, pharmaceuticals, and parts of Silicon Valley. All industries that employ admin and support staff.
Silicon Valley businesses can take heart in the fact that a lack of regulatory oversight can do wonders for companies’ bottom line. The proposed gutting of the Consumer Finance Protection Board, will likely mean that fintech companies will have an easier go of it. American manufacturers in the space and aerospace industry are likely to benefit from the new fiscal policies of a Trump Administration. “The plans to reduce regulation and reduce taxes will help them.”
Other winners courtesy of a Trump Administration appear to be: oil drillers, gas pipelines, coal, banks and defense contractors, but beginning with a bipartisan effort on infrastructure will emphasize private sector participation in a Trump administration- hence recruiters and those looking to transition to a new job should be at the ready. “Without a doubt, the obvious beneficiaries are defense, transportation and energy,” said Tim Loughran, a professor of finance at Notre Dame. “If there were more coal companies still on the market, they would be really hot right now. The transportation sector has been hit with excessive regulation. Trump should be able to fix that, too.”
An interesting look and interesting times we live in. If you are looking to hire or you are an individual looking to change careers, email Randi at Randi@RecruitingSpec.com.