Business Insider, a publication of the National Review Institute, has created a ranking of all of the businesses in America that will be hurt the most under President Donald Trump.
Business Insider’s CEO and editor-in-chief, Ben Smith, explains that Trump is not just an economic populist, but a political one, as well.
He points to the fact that, under his presidency, business owners and employees will likely be unable to secure healthcare coverage, get unemployment insurance, and other basic necessities for their families.
“Businesses that are going down the economic path, those that have been hurt the least are the ones that are the least likely to get a raise,” Smith told Business Insider.
The ranking is meant to be a measure of how the economy will be affected by Trump’s presidency.
As of Tuesday, the President had already signed two executive orders that will increase the number of refugees admitted into the United States, the minimum wage for federal workers, and the minimum number of days a worker can work in the United Kingdom.
These orders, which will go into effect on January 20, 2017, will have an impact on all industries, including the hospitality industry.
However, Smith noted that the majority of the affected industries will likely see their stock prices drop, meaning the impact will be felt disproportionately by the hospitality sector.
“The hospitality industry is one of the most profitable in the country,” Smith said.
“Its a big part of our economy and that’s going to be affected.
So if its going to lose as much as it has lost, it’s going not just to be to the hospitality, but the hospitality-related industries as well.”
Business Insider compiled the list of the worst companies to lose jobs under Trump.
While Smith did not provide an explanation for why businesses might be losing jobs under the President, he did note that businesses will likely need to hire additional staff to cope with the increased workloads that Trump has placed on the country’s workforce.
“We know that there are a lot of temporary workers that are out there that are looking for work,” Smith added.
“If we have to have a large number of new hires, that’s a big issue.”
Business owners may also face a challenge in obtaining visas for people coming to the United State, which has been one of Trump’s signature campaign promises.
Smith said that many of these businesses may need to make the difficult decision of hiring temporary foreign workers to fill their positions.
The United States has a backlog of visa applications for workers coming from countries like China, Vietnam, India, and Mexico, which have been plagued by high rates of economic discrimination, poverty, and crime.
“This is going to make it very hard for a lot more people to come in,” Smith warned.
The list of industries that will experience the most job losses under Trump also includes the hospitality and retail industries, which Smith said will likely lose the most jobs.
“What this means for the hotels is the chains that are still in business, like Marriott and Hyatt and others, they’re going to see their occupancy rates decrease,” Smith explained.
The hotels will also be hardest hit by the reduction in federal aid for people trying to get out of poverty.
Smith pointed out that many people in this country are living in poverty, which means they have no money for food, shelter, or other basic needs.
The hospitality industry will likely face a difficult time in this regard, especially as more and more of the people in the hospitality business are looking to stay.
“These are people who will need to be able to provide for themselves and their families,” Smith noted.
“They’re going have to pay rent.
They’re going need to pay the bills.
They’ll have to make payments on credit cards.”
Businessers are also likely to face a decrease in profits as they will no longer be able be able use the government’s taxpayer-backed loan programs for home improvements.
“There will be a huge impact on the business,” Smith continued.
“As they’re no longer able to borrow money, their business is going down.”
This is a developing story.
Check back for updates.
Business leaders who spoke with Business Insider earlier this week said that they were worried about the impact that Trump’s actions will have on their business.
“I think they’re putting more pressure on us, and that will lead to some disruption in our business,” said Chris Ragan, the president of the hospitality chamber at the National Association of Realtors.
“In some ways, it may be our worst day ever,” he added.
Ragan noted that his association, which represents more than 3,000 businesses, was “doing everything we can” to help the hospitality community, but added that he was concerned that the impact could be “substantial.”
“I am concerned about the long-term impact of the policies they are introducing,” he said.
Businesses that have already been affected by President Trump’s orders include: American Express, Capital One, Dell, General Motors, Marriott, Microsoft, and Verizon.