Economists

Detailed Occupation

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2024 Workforce

35.9k

Average Age

44.2

Estimated Job Growth

1.14%

10-year projection

Average Salary

$168,262

Average Male Salary

$179,532

Average Female Salary

$148,344

About

Economists are most often employed by the Administration of economic programs & space research industry. The average yearly wage for Economists was $168,262 in 2024.

The locations that employ the most Economists are District of Columbia (Central) PUMA, DC, Arlington County (North) PUMA, VA, and District of Columbia (South Central) PUMA, DC. The locations with a relatively high concentration of Economists are District of Columbia (Central) PUMA, DC, District of Columbia (West) PUMA, DC, and South Montgomery County--South Bethesda & Chevy Chase PUMA, MD.

Photo by Rob Pongsajapan

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Employment

Employment and salary information for the Economists workforce. Economists workforce in 2024 was 35,876 people, of which 36.1% were women and 63.9% were men.

Economists are paid most in Middlesex County--Watertown, Arlington & Belmont PUMA, MA but are relatively concentrated in District of Columbia (Central) PUMA, DC.

Employment Over Time

Metric

Grouping

22,912

Male Workforce

± 3.72k

12,964

Female Workforce

± 2.8k

The Economists workforce in 2024 was 35,876 people (36.1% women and 63.9% men). This implies an average annual growth of 43.1% between 2014 (25,063) and 2024 (35,876).

Employment by Location

Level

Metric

This map shows the states in the United States shaded by average wage for Economists.

During 2024, the states that concentrated the best average annual wage were New York ($220,177), Kentucky ($218,227), and Texas ($199,527).

Yearly Wage Ranking

$168,262

AVERAGE WAGE

#10 in the ranking (2014)

$69,878

NATIONAL AVERAGE WAGE

For all occupations across the US

In 2024, Economists earned an average of $168,262, $98,384 more than the average national salary of $69,878

The graph shows the ranking of Economists in relation to all Detailed Occupation in 2014.

In 2024, Economists had a wage GINI coefficient of 0.34, which is lower than the national average of 0.474. In other words, wages are distributed more evenly for Economists (shown in red) than for the overall labor force (shown in gray).

The graphic shows the distribution of average salaries by buckets for Economists compared to the entire workforce in the country.

Industry

Information on the industries that employ Economists and on wages for those in the field. Administration of economic programs & space research is the industry that employs the most Economists, both by share and by number, though the highest paid industry for Economists, by average wage, is Amusement & Recreation ($291,996).

Occupations by Industries

Metric

Value

35.9k

2024 Workforce

± 4,650

0.985%

1 YEAR GROWTH

± 18.2%

This graphic shows the share of Economists employed by various industries. Administration of economic programs & space research employs the largest share of Economists at 38.8%, followed by Management, scientific & technical consulting services with 26.3% and National security & international affairs with 23.3%.

Diversity

Demographic information on Economists in the US. The workforce of Economists in 2024 was 35,876 people, with 36.1% woman, and 63.9% men. The average age of male Economists in the workforce is 45.3 and of female Economists is 42.4, and the most common race/ethnicity for Economists is White.

Gender and Age

Metric

The workforce of Economists in 2024 was 35,876 people, with 36.1% woman, and 63.9% men.

The age ranges that concentrated the largest workforce were 35 to 39 years (5,418 people), 30 to 34 years (5,062 people), and 40 to 44 years (5,008 people). Among them they concentrated 43.4% of the total workforce.

Ethnicity

Gender

In 2024, 12.6% of Economists workers were Hispanic and 87.4% non-Hispanic.

The treemap shows the distribution of Hispanic workers according to their origin, highlighting Mexican (27.7%), Colombian (17.3)%, and Puerto Rican (10.7)%

You can review this information by gender using the selectors above.

Races

In 2024, 65.4% of the Economists workforce were White, of which 32.3% were women and 67.7% men. Other races that concentrated a significant number of workers were Asian (15%) and Two or More Races (10.8%).

Education & Skills

Data on higher education choices for Economists from The Department of Education and Census Bureau. The most common major for Economists is Social Sciences but the most specialized major according to RCA in 2024 were Social Sciences.

Among the necessary skills for Economists, Reading Comprehension stands, but the revealed comparative advantage (RCA) shows that Economists need more than the average amount of Mathematics.

Majors

ACS PUMS data only shows the major for bachelor's degrees. However, we can filter the data based on highest degree obtained.

Type of Majors

Degree

The most common majors achieved by Economists in 2024 (counting all academic degrees) were Social Sciences (18,376 people), Business (4,819 people), and Math & Statistics (1,527 people).

You can review this information for different academic grades by modifying the option selected in the selector above.

Education Levels

Metric

The main educational levels achieved by the Economists workers were Graduate Degree (26,843 people), Bachelors Degree (9,033 people), and false (0 people).

The graphic shows the Economists workforce by gender and educational level.

Skills

Chart

Value

Data on the critical and distinctive skills necessary for Economists from the Bureau of Labor Statistics. Economists need many skills, but most especially Reading Comprehension, Critical Thinking, Writing.

Projections

Projections on job growth for Economists from the Bureau of Labor Statistics. The 10-year national workforce is projected to grow 3.07%, but Economists are expected to see a growth of 1.14% over the same period. This occupation is expected to grow less than the national average.

Job Growth

1.14%

Estimated Job Growth

10-year Projection

3.07%

National Growth

10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Economists. This profession is expected to grow less than than 3.07%, the average rate of national job growth.