A Democratic sweep this election cycle would bring a faster recovery to the job market than a Republican one, according to a new analysis, adding millions of more jobs, shrinking the unemployment rate faster, and boosting the number of workers in the labor force higher.
Under a scenario where Democratic presidential nominee Joe Biden wins the presidency and both the Senate and the House of Representatives are controlled by Democrats, 18.6 million jobs would be added by 2024, according to the analysis from Moody’s Analytics.
Under the opposite scenario where President Donald Trump wins a second term and Republicans control both chambers of Congress, 11.2 million jobs would be created.
“Biden would implement much more aggressive fiscal support to the economy early on in his administration,” Mark Zandi, Moody’s Analytics chief economist who co-authored the report told Yahoo Money. “That provides a lot of juice to the economy early on