Both candidates want to add jobs

A statistical anomaly that favors both presidential contenders shows that industries expected to benefit from a John Kerry win in November currently are adding more jobs than industries expected to benefit from the reelection of George W. Bush. However, the "Bush industries," which happen to be smaller in size, hold the edge when it comes to percentage growth.

"In an election that many say will hinge on the employment picture, it ultimately will be up to job-seeking voters to determine which candidate they believe will deliver the most new job opportunities," states John A. Challenger, chief executive officer of Challenger, Gray & Christmas, Inc., Chicago, the international outplacement firm that conducted the analysis.

Challenger examined the top five industries expected to benefit the most under each candidate, based on information from the candidates' respective websites, published articles on their positions, and interviews with several Wall Street analysts. A victory for Pres. Bush is expected to have the best impact on employers in the automotive, financial services, timber, pharmaceutical, and tobacco industries. A Kerry win would boost the fortunes for companies in health care, education, government, home building, and insurance.

According to job creation data from the latest employment report by the Bureau of Labor Statistics, the industries expected to be the biggest beneficiaries of a Kerry win added a combined 283,500 jobs to the economy between January and June. That is more than double the 123,200 jobs produced by Bush-favored industries. However, because the Bush industries employ significantly fewer workers, the gain actually represents a growth rate of 0.82 percent. Meanwhile, the Kerry industries have grown by 0.62 percent.

Challenger also identifies five industries that will see growth and expanded job opportunities regardless of who wins the election: energy, technology, manufacturing, defense/ homeland security, and consumer staples, such as food and home-product manufacturers. "Some may consider energy a Bush winner, particularly because of his well-established ties to Texas oil and gas interests. Certainly, his plans to open more land to exploration and loosen environmental restrictions for some utilities will help companies in these areas grow. However ... Kerry has also expressed a strong commitment to decreasing our nation's dependence on foreign oil. The energy companies that would benefit from a Kerry win are those involved with the research, development, and implementation of alternative power sources," Challenger observes.

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