How Is The Economy Affecting This Industry

While you conduct an interview, you are likely to receive a few questions from the prospective employee. These questions help them understand the job a little better. They are also a way for the interviewee to determine if the job is a good fit. One common question interviewee’s ask is “how is the economy affecting this industry”

This question helps the interviewee understand how secure the job will be if they take it. Many interviewees ask this question because they want to make sure to accept a job with a stable company.

Points to Emphasize

If you receive this question during an interview, it is important to highlight positive aspects of the job and the company.

  • Discuss ways that the industry is still in demand despite economic setbacks.

  • Share examples that show the company was able to maintain success even with the economic problems.

  • Discuss other businesses in the same field are succeeding.

  • Talk about changes in the economy you have observed and how that can have a positive affect on the industry.

    It is okay to point out something negative, like setbacks or fewer sales that have resulted from the economy. This information should be vague and it should end with a statement that is more confident. When you do this, you reiterate the company’s strength and make it clear that the interviewee is applying for a stable job.

    Mistakes You Should Avoid

    While it is acceptable to acknowledge that the economy has negatively affected some fields, it is particularly important to avoid answers that are entirely negative. This kind of statement does not help the hiring manager understand why your job is important.

  • Avoid discussing companies you know that have gone out of business.

  • Do not talk about pay cuts that have resulted from problems with the economy.

  • Do not make it sound like the field is no longer needed.

  • There is no need to provide a detailed lecture when answering this question.

    Remember, the interviewee does not need a lesson on the economy. Instead, they probably want information about how the company has weathered the economic storms.

    Sample Answer

    Sample Answer

    A great answer to this difficult question about the economy may sound something like this:

    The economy has affected nearly every field, but things seem to be getting better. In this field, several jobs are available and people are getting promotions. Your role is valued and needed by out company, and we are very hopeful for the future.

    The right answer will make it easy for an interviewee to accept the job. Stay positive without over embellishing.

  • Interview Tips

    How to Practice for a Job Interview

    How to Practice for a Job Interview

    If you’ve landed an interview, congratulations! You’re one step closer to getting hired... More

    Interview Videos

    Prepare for Your Interviews
    Learn with our help today!

    Prepare for Your Interviews
    Interview Tips

    3 Tricky Interview Questions You Must Know How to Answer

    3 Tricky Interview Questions You Must Know How to Answer

    Job interviews are always stressful. You're wearing an uncomfortable suit and shoes that pinch, and you're being grilled by a person who could decide... More
    800-652-8430 Mon- Fri 8am - 8pm CST
    Sat 8am - 5pm CST, Sun 10am - 6pm CST