Economists

General Information

Description

Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.

Business Breakdown

People in this career work in these sectors.

  1. Private, for profit38.67%
  2. Federal government25.72%
  3. State and local government16.14%
  4. Private, not for profit15.96%
  5. Self-employed3.50%

Workplace at a Glance

What you can expect to experience while on the job

  • Responsibility
  • Exposure to job hazards
  • Physical activity
  • Decision making
  • Repetitiveness
  • Level of competition
  • Time pressure

Industry areas

  • Science, Technology, Engineering & Mathematics

Job Outlook

Employment of economists is projected to grow 6 percent from 2021 to 2031, about as fast as the average for all occupations. About 1,400 openings for economists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

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Salary

Average Salary

Salary

$105,630

State-by-state Salary

Gray states indicate no data available

$143,400
$51,850
No Information for this section

Education

Most Common Education Levels

People in this career achieve this level of education.

  • Doctoral degree 60%
  • Master's degree 30%
  • Post-doctoral training 4%
  • Post-master's certificate 4%
  • High school 0%
  • Some college 0%
  • Bachelor's degree 0%
  • Associate's degree 0%
  • Post baccalaureate 0%
  • Less than high school 0%
  • First professional degree 0%
  • Post-secondary certificate 0%

Knowledge

  • Mathematics
  • Economics and Accounting
  • English Language
  • Computers and Electronics
  • Education and Training

Skills at a Glance

Skills helpful in this career

  • Verbal skills
  • Critical thinking & problem solving
  • Equipment operation & maintenance
  • Math & science skills
  • Technology design & control
  • Leadership
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