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 profit31.14%
  2. Federal government27.54%
  3. State and local government17.12%
  4. Private, not for profit16.56%
  5. Self-employed7.63%

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

Job Outlook

Employment of economists is projected to grow 13 percent from 2020 to 2030, faster than the average for all occupations. About 1,600 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

$108,350

State-by-state Salary

Gray states indicate no data available

$133,470
$52,550
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%

Related College Majors

Select major to see colleges that offer it

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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