Restrictions in place around work visas are only half of the problem. If a weak economy translates into an infertile jobs market, there could be high barriers in place for business school graduates.
According to Moody’s, the economic outlook is weakest under a scenario in which Trump and the Republican Party sweep Congress. ‘The economy is expected to create 11.2 million jobs during Trump’s second term as president, and it is not until the first half of 2024 that the economy returns to full employment,’ the report says.
“The Trump administration for four more years could have a negative impact across the whole value chain of the MBA student experience, from recruitment all the way through career services,” explains Stephen Taylor, a research director at Liaison International, an admissions marketing and management consultancy.
Biden
Moody’s predicts a quicker economic recovery under a Biden presidency. A Democrat victory could create 18.6 million jobs, with the economy returning to full employment and an unemployment rate of just over 4%, by the second half of 2022.
Still, whoever wins the presidency, the economic outlook is stark. The past four years of Trump does give a baseline prediction of what another four years could look like. Though Biden’s agenda is untested, it would be expected that his policies would favor a rollback of Trump’s work visa restrictions, coupled with the spending necessary to lift the US out of a slump.
“A Biden administration would show at least an attempt at the opposite [of what Trump has done],” Stephen explains, “which would be to a reconciliation process trying to pull apart some of these executive orders, and trying to slow and then stop the pandemic so businesses can truly continue to open.”
There is some cause for optimism though among recruiters. Companies polled by GMAC in its annual Corporate Recruiters Survey expect hiring to rebound in 2021. In wave two of GMAC’s research—carried out between June 17th-and-July 17th—89% of recruiters said they planned to hire MBAs in 2021.
What Are The Key Business Battlegrounds For Trump & Biden?
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