“Not only will we stop our businesses from leaving for foreign lands, but we are going to take other countries’ jobs. American workers will no longer be worried about losing your jobs to foreign nations, foreign nations will be worried about losing their jobs to America — and it won’t even be difficult.”
These words were spoken by Donald Trump at a campaign rally in Savannah, where he vowed to overhaul the American workforce with his signature bravado.
Fast-forward to his victory as the 45th President of the United States, and the big question remains: Can he deliver? With plans for deregulation, mass deportation, corporate tax cuts, and “America First” policies, Trump’s approach could just flip the script on the job market. But let’s be real — how much of this will impact the everyday American worker?
How Do Elections Influence the Job-Search Landscape?
Political transitions create uncertainty — companies may hit the brakes, delay hiring decisions, or shelve expansion plans. It’s not uncommon for businesses to “wait and see” until the political dust settles.
And this is nothing new — in 2016, the Business & Industry Economic Outlook Survey¹ found that 15% of companies were putting off hiring new employees and 6% said they were cutting spending around election time. So if you’re currently on the job hunt — don’t be surprised to see longer response times as companies test the waters in the election aftermath.
Certain industries, like tech or healthcare, might slow down if policies don’t favor them, but others, like manufacturing or energy, could see a boost depending on the administration’s priorities.
So, what does this mean for job seekers? Adaptability becomes your superpower. Employers could lean on temporary or freelance roles during uncertain times, so be open to different opportunities that could help you keep moving forward.
Trump’s Impact on Employment in His First Term: A Timeline
Trump made history as the first modern-day president to experience a net loss of jobs during his time in office (certainly not the only time he made history). But in this case, we can cut him some slack. His term collided with the unprecedented pandemic, sending unemployment soaring to 6.5%² (or 220 million people) globally. To put that in perspective, it’s now around 4.9%.
Getting your head around the numbers during Trump’s first term is like trying to figure out how a reality TV star became president — quite the head-scratcher. So, here’s a quick overview of how jobseekers were impacted in those unpredictable four years.
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How Will the Second Trump Administration Impact the US Job Market?
The Trump administration’s policies could reshape the U.S. job market in ways that spark both opportunity and concern. “Pro-business” moves like tax cuts and deregulation could energize industries like manufacturing, fossil fuels, and defense, potentially generating new jobs.
On the flip side, tighter immigration rules might leave sectors like agriculture and construction short-staffed, potentially raising costs. And while fossil fuels may enjoy a comeback, renewable energy could be left fighting for a spot in the sun.
Let’s dive into the key factors and policies expected to affect the US job market.
The “wait-and-see” approach
The “wait-and-see” approach is nothing new during presidential elections. When there’s a big political transition, many companies slam the brakes on big decisions — and honestly, who wouldn’t? Between chaotic campaign rallies, awkward debates, and policy guessing games, many are pausing before diving into long-term investments or workforce expansion.
A recent survey³ by Duke University found that 30% of CFOs are postponing, scaling down, delaying, or canceling investment plans due to uncertainty surrounding the election. Deloitte also found that 58% of CFOs⁴ believe the election results will be extremely or very consequential for their businesses.
These concerns can cause organizations to freeze hiring or cut spending — and that cautious mindset often lingers in the immediate aftermath. The logic? “Why gamble when the rules could change?”
The result? A temporary slowdown. Companies may hold off filling roles or greenlighting big projects, trickling down to fewer job opportunities. Yes, it’s frustrating, but here’s the silver lining: once policies are clarified, companies tend to bounce back, and hiring usually follows suit.
Tax Cuts and Jobs Act (TCJA)
Trump has signaled he wants to further reduce the corporate tax rate, currently at 21%⁵. The idea is for companies to reinvest these savings into expanding operations, funding innovation, or hiring more workers.
From a job market perspective, lower taxes mean businesses would have extra cash to grow their workforce. This sounds great in theory — but as we know, this isn’t necessarily a win for us ordinary folk. Critics argue the extra profits could go toward stock buybacks or padding CEO paychecks, with limited benefits for the average employee.
The real hiring boost hinges on how fast companies feel secure enough to act on tax cuts. If things roll out smoothly, industries like tech, manufacturing, and construction could see a hiring surge. Let’s hope the benefits actually trickle down.
Deregulation and job creation
Trump’s approach to regulation is a far cry from other administrations. During his presidency, regulatory costs averaged $10 billion annually⁶ — far lower than the $111 billion under Obama or $43 billion under George W. Bush.
In the tech world, this hands-off approach could mean a boom in innovation for AI, cloud computing, and autonomous vehicles. With fewer hoops to jump through, companies might speed up development and hiring, creating opportunities for software engineers, data scientists, and other tech professionals.
Deregulation could also unlock new job opportunities in energy sectors, like oil, natural gas, coal, and nuclear. By relaxing rules on drilling and mining, companies will find it easier to expand operations, potentially creating roles in production, transportation, and infrastructure.
And Trump isn’t shy about hyping up the nation’s reserves. In his victory speech, Trump said this to Robert F. Kennedy Jr (a former environmental lawyer and a future HHS Secretary under the Trump new administration):
“We have more liquid gold than any country in the world. More than Saudi Arabia. We have more than Russia. Bobby, stay away from the liquid gold.”
That’s good news for workers in fossil fuel industries, but it comes at a cost — renewable energy. With less support for clean energy technologies, solar, wind, and hybrid vehicle manufacturing may face challenges, potentially slowing their job growth.
And let’s not gloss over the downsides. Deregulation might create jobs now, but it could lead to long-term environmental, health, and safety issues (but at least the US is making bank, right?) Plus, as the world shifts toward clean energy, fossil fuel workers might find themselves at a crossroads — holding jobs in industries that could fade with time. So, great for now… but what’s the plan for later?
Immigration policy
Limiting immigration might sound like it clears the deck for American workers, but the reality? It’s complicated. Trump’s controversial immigration policies may help boost wages in low-skill sectors where labor is scarce, but they could also create challenges for industries dependent on immigrant labor or specialized international expertise.
Sectors like construction, hospitality, agriculture, and landscaping will be hit hard as they employ a large portion of immigrants. According to the US Census Bureau⁶, here’s a breakdown of sectors with the largest amount of immigrant workers:
- Construction: 21.5%
- Agriculture, forestry, fishing, and hunting: 15.7%
- Leisure and hospitality: 13.2%
- Professional and business services: 11.9%
- Manufacturing: 10.4%
While employers may struggle to fill roles, wages could rise as companies compete for a smaller pool of talent. Great news for Americans willing to roll up their sleeves — but higher wages could also drive up costs for businesses and consumers.
But times are changing, and advances in agricultural technology could reshape the types of jobs available. As automation takes hold, farms will need fewer laborers but more workers with technical know-how. That sounds like progress, right? Except tech companies often lean on global talent, and immigration restrictions could leave them scrambling to fill those roles, too.
“America First” policies
Trump’s “America First” mantra is all about boosting U.S. industries and reducing foreign dependence. By encouraging domestic mining, manufacturing, metals, and mineral extraction, there’s likely to be a surge in demand for workers in those industries.
Trump’s proposed tariffs, potentially as high as 20% on imported goods⁸, are designed to make foreign goods pricier and give domestic manufacturing a competitive edge. This could lead to increased manufacturing roles, particularly in sectors like aerospace and defense. Greater funding could also mean more opportunities for engineers and technicians working on new technologies and infrastructure.
But there’s a catch. Those tariffs and the push for “made in America” could mean higher costs for industries relying on imported materials. Tech firms, data centers, and life sciences companies might tighten their belts, which could stall growth and slow job creation. It’s a double-edged sword: more opportunities for some, but potential hurdles for others.
The Short-Term vs. Long-Term Effects on the Job Market
While elections can shake up the job market in the short term, long-term trends often depend on factors like technological advancements, global markets, and geopolitical events. However, here are some popular predictions of what to expect in the coming months and years.
How Can Workers Adapt to a Shifting Job Market?
Research⁹ has pinpointed adaptability as one of the most in-demand skills for employers — a soft skill that’s never been more important in today’s evolving job market and political landscape. Knowledge is power — the key is understanding where the opportunities are and aligning your strategy with market shifts.
Adapting requires a proactive and strategic approach. Here’s a step-by-step guide to help you stay ahead:
1. Follow policy and industry trends
Politics can shake up entire industries, and Trump’s initiatives are no exception. Manufacturing, energy, and defense might thrive, while clean energy could face roadblocks. Stay plugged into how policies affect your field, so you can spot opportunities or dodge risks before they hit.
2. Be ready to pivot
Do your research on which sectors are predicted to rise. Jobs in fossil fuel production, defense, aerospace, construction, and cybersecurity are all expected to grow under Trump’s administration. If you’re stuck in a rut, now’s the time to consider a shift. Flexibility in your career goals is a smart power move in a changing market.
3. Invest in valuable skills
Focus on in-demand skills across growing industries, such as knowledge of artificial intelligence, blockchain, cloud computing, data analysis, and cybersecurity. And don’t just ride the wave; stay ahead with certifications or training that make you indispensable.
Learn how to use your skills to land a job: The Best Skills to Put on a Resume
4. Tailor your resume
You may have all the right skills, but if you can’t create a tailored resume, be prepared to fall at the first hurdle. Your resume should give success stories of how you’ve adapted to change, solved problems, or succeeded in dynamic environments. Resilience is your secret weapon — make sure employers see it.
Need some help? Check out our free Rezi AI Resume Builder. Just enter your details and our technology will create a personalized and professional resume in seconds.
5. Seek networking opportunities
The right connections can provide a safety blanket during market uncertainty and fluctuating jobs. Networking isn’t just about small talk at events; LinkedIn or a casual coffee chat with an old colleague can be game-changers. And yes, introverts, this works for you too.
7. Think of the bigger picture
While it’s smart to focus on industries currently benefiting from new policies, consider the sustainability of these trends. Sure, fossil fuels might boom today, but how sustainable is that in a green-focused world? Politics can shift the economy short-term, but the job market’s long game is shaped by bigger forces. Keep one eye on today and the other on the future.
Final Thoughts
The U.S. job market post-election will reflect a mix of opportunities and challenges, shaped by the administration’s priorities. Tax cuts, deregulation, trade shifts, and immigration restrictions can send ripples through industries like manufacturing, energy, tech, and agriculture.
That said, elections may set the mood, but the real drivers are the big players: technology, globalization, and market demand. No matter who’s in office, adaptability is key. Staying informed, flexible, and focused on building valuable skills is what keeps workers ahead of the curve.
My advice? Keep an eye on the news, anticipate industry trends, and double down on your personal growth. Yes, change is a wild card, but it’s also a chance to evolve, seize new opportunities, and thrive in the long run.
Sources
1. Amato, Neil. 2016. Review of Companies Plan to Hire—If They Can Find Workers. Journal of Accountancy. September 1, 2016.
https://www.journalofaccountancy.com/news/2016/sep/finance-accounting-hiring-201615088.html
2. United Nations Statistics Division. n.d. Review of Promote Sustained, Inclusive and Sustainable Economic Growth, Full and Productive Employment and Decent Work for All. Sustainable Development Goals. United Nations. Accessed November 24, 2024.
https://unstats.un.org/sdgs/report/2021/goal-08/
3. Duke University and the Federal Reserve Banks of Richmond and Atlanta. 2024. Review of The CFO Survey. Richmondfed.org. Federal Reserve Bank of Richmond. September 25, 2024.
https://www.richmondfed.org/research/national_economy/cfo_survey/data_and_results
4. Gallucci, Steve, and John Goff. 2024. Review of US Finance Chiefs Appear Cautious Headed into the 2024 Election. Here’s What Surveyed CFOs Are Watching. Deloitte. September 18, 2024.
https://www2.deloitte.com/us/en/insights/topics/strategy/deloitte-cfo-signals-quarterly-survey.html
5. Trading Economics. n.d. Review of United States Federal Corporate Tax Rate. Trading Economics. Accessed November 24, 2024.
https://tradingeconomics.com/united-states/corporate-tax-rate
6. Bosch, Dan. 2021. Review of Trump Administration Ends with $40 Billion in Regulatory Costs. American Action Forum. January 21, 2021.
https://www.americanactionforum.org/insight/trump-administration-ends-with-40-billion-in-regulatory-costs/
7. United States Census Bureau. 2022. Review of Foreign-Born: 2022 Current Population Survey Detailed Tables. Census.gov. 2022.
https://www.census.gov/data/tables/2022/demo/foreign-born/cps-2022.html
8. Horsley, Scott. 2024. Review of Here’s What Trump 2.0 Means for the Economy, from Tariffs to Mass Deportations. NPR. November 6, 2024.
https://www.npr.org/2024/11/06/nx-s1-5181327/trump-election-economy-tariffs-deportations
9. Poláková, Michaela , Juliet Horváthová Suleimanová , Peter Madzík, Lukáš Copuš, Ivana Molnárová , and Jana Polednová. 2023. Review of Soft Skills and Their Importance in the Labour Market under the Conditions of Industry 5.0. PubMed Central®. Heliyon. July 27, 2023.
https://pmc.ncbi.nlm.nih.gov/articles/PMC10428053/
