Economists
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.
Also called: Economic Advisor · Economic Analyst · Economic Consultant · Economic Development Specialist · Economist · Forensic Economist
Median pay (national)
$115,440
$62,340–$212,710 (10th–90th)
Employed (US)
15,880
BLS OEWS, May 2024
Outlook 2024–34
+1.2%
~900 openings/yr
Typical entry
Master's degree
What the numbers say
Refit analysis ·Pay for economists shows an unusually wide range: the top 10% earn $212,710 versus $62,340 at the bottom 10% — 3.4x. The median of $115,440 leaves roughly 84% of headroom to the 90th percentile, which is where seniority, specialization, and the skills below tend to pay off.
Refit analysis ·Employment is projected to change +1.2% from 2024 to 2034 — slower than the 3% all-occupation average. Even so, BLS projects about 900 openings a year, mostly to replace workers who retire or change careers.
Refit analysis ·Where you work moves the number a lot. Across the 41 states with released data, District of Columbia pays the most for this role (median $162,610, +41% vs the national median), while South Carolina sits lowest at $51,980 — a 213% spread for the same job title.
Refit analysis ·O*NET rates Reading Comprehension, Mathematics, Critical Thinking as the highest-importance skills here — so a resume aimed at this role should lead with evidence of those, not a generic skills list. On the tools side, O*NET flags Microsoft Access, Microsoft Excel, Microsoft Office software, Microsoft Power BI as in-demand technologies for this role.
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Top skills employers ask for
Ranked by O*NET importance for this occupation.
- Reading Comprehension
- Mathematics
- Critical Thinking
- Active Listening
- Writing
- Speaking
- Active Learning
- Learning Strategies
- Monitoring
- Science
What they actually do
Core O*NET tasks for this role.
- Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
- Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
- Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
- Explain economic impact of policies to the public.
- Review documents written by others.
- Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
- Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
- Supervise research projects and students' study projects.
- Conduct research on economic issues, and disseminate research findings through technical reports or scientific articles in journals.
- Develop economic guidelines and standards, and prepare points of view used in forecasting trends and formulating economic policy.
Tools & technology
- Microsoft Access
- Microsoft Excel
- Microsoft Office software
- Microsoft Power BI
- Microsoft PowerPoint
- Python
- R
- SAS
- StataCorp Stata
- Statistical software
- Structured query language SQL
- Tableau
- C++
- IBM SPSS Statistics
- Microsoft SQL Server
- Microsoft Visual Basic
Knowledge areas
- Mathematics
- Economics and Accounting
- English Language
- Computers and Electronics
- Education and Training
- Communications and Media
- Law and Government
- Administration and Management