Rashford has established himself at Old Trafford since his sudden first-team breakthrough in February 2015, making 54 appearances in the Premier League since then.
Down the road at the Etihad Stadium, meanwhile, Jesus has arguably made an even bigger impression since officially arriving at the start of the year, matching his tally of seven goals in 10 top-flight outings from last season in the opening three months of 2017-18.
Giggs believes that former side United have the better player, though, telling Sky Sports News: "I think the word for these two players is exciting. They're a bit different, Jesus has a better scoring record but Marcus likes to match up with defenders and try something, which is what makes him great to watch.
"I've worked with Marcus and seen him at close hand and how much of a talent he is. However, it is his work rate and commitment which are really what makes him such a valuable asset for Manchester United.
"You wouldn't swap him for any other young player right now. I've not seen Jesus in the same close-up environment but he's obviously shown from his performances he is a very talented player."
Rashford and Jesus are likely to come face to face on Tuesday night when England host Brazil in a friendly at Wembley Stadium.