Business, economics and the jobs market

The state of the economy has an important impact upon your job prospects as when the economy is doing well then more jobs will be being created, wages will be rising at a faster rate and the opportunities to move up the ladder will increase. When the economy is doing badly the opposite will be true, there will be fewer jobs and more people looking to take the opportunities that remain.

The state of the economy is also important as it has an impact upon the company that you are apply for. When the economy is doing well, the company that you are applying for will also benefit as they will have an increased number of potential customers.

A knowledge of the economy will help you make the right decisions about when to try and look for a new job, which sectors are likely to be looking for new employees and which are likely to be letting people go. It will also make you seem knowledgeable in the interview process. If you can relate the state of the economy with the company you are looking to work for, and can highlight the opportunities and threats that exist in the current economic environment then you will prove that you have beneficial skill that the company can use.