Economists
Economists earn an average annual salary of $128,983, making it one of the higher-paying occupations. While facing some shifts, the field is adapting to changes in the job market. Professionals in this field are primarily employed in industries such as Cross-industry and Federal, State, and Local Government, including State and Local Government Schools and Hospitals and the U.S.
Key Statistics
Employment
Employment and salary information for the Economists workforce.
Employment Over Time
1,400 Workforce in 2023
The Economists workforce has been growing over time.
Historical employment trends for Economists.
Yearly Wage Ranking
$128,983 Average Wage
In 2023, Economists earned an average of $128,983.
Wage ranking compared to other occupations.
Wage Distribution
This chart shows the distribution of average salaries by income buckets for Economists.
Salary distribution for Economists.
Employment Growth Projections
3.4% Compound Annual Growth Rate (CAGR)
6,353 Projected Employment (5 years)
Projected growth: 18.1%
7,502 Projected Employment (10 years)
Projected growth: 39.5%
This occupation is projected to grow at 3.4% annually, indicating strong future demand.
Historical employment trends and future projections for Economists.
Industry
Information on the industries that employ Economists and on wages for those in the field.
Occupations by Industries
This graphic shows the share of Economists employed by various industries.
Industry distribution for Economists.
Wage Trends by Industry
11.0% Average Annual Wage Growth Rate
Historical wage growth trends by industry for Economists.
Geographic Distribution
Employment and wage information by geographic location for Economists.
Metropolitan employment on this page is from the California OEWS extract. Area names omit state codes; all listed metros are in California, so the state chart shows California totals (not a multi-state ranking).
Top States by Employment
Top States by Employment:
- CA: 1,290 employees, $129,461 avg wage
Top 10 states by employment for Economists.
Top Metropolitan Areas
Top Metropolitan Areas:
- Sacramento-Roseville-Folsom MSA: 380 employees, $97,253 avg wage
- San Francisco-San Mateo-Redwood City MD: 240 employees, $166,665 avg wage
- Los Angeles-Long Beach-Glendale MD: 200 employees, $140,692 avg wage
- Oakland-Fremont-Berkeley MD: 190 employees, $135,749 avg wage
- Anaheim-Santa Ana-Irvine MD: 100 employees, $119,670 avg wage
- Riverside-San Bernardino-Ontario MSA: 70 employees, $127,195 avg wage
- San Diego-Chula Vista-Carlsbad MSA: 50 employees, $117,242 avg wage
- San Jose-Sunnyvale-Santa Clara MSA: 30 employees, $178,020 avg wage
- Santa Maria-Santa Barbara MSA: 20 employees, $115,064 avg wage
- Santa Cruz-Watsonville MSA: 10 employees, $174,322 avg wage
Top 10 metropolitan statistical areas by employment for Economists.
Diversity
Demographic information on Economists in the US.
Gender and Age
The workforce of Economists in 2023 was 1,400 people, with 62.0% women and 38.0% men.
Gender and age distribution for Economists.
Races
Racial and ethnic shares when present in the career dataset. If the chart area shows a notice instead, occupational race/ethnicity fields are not yet populated for this extract.
Race and ethnicity distribution for Economists.
Education & Skills
Data on higher education choices and required skills for Economists.
Majors
The most common majors achieved by Economists in 2023 were Business Administration, Economics, Mathematics.
Common majors for Economists.
Education Levels
The main educational levels achieved by Economists workers.
Education level distribution for Economists.
Skills
Economists need many skills, but most especially Reading Comprehension, Critical Thinking, Mathematics, Writing, Judgment and Decision Making.
Required skills for Economists.
Knowledge & Abilities
Knowledge areas and abilities required for Economists.
Knowledge Areas
The most important knowledge areas for Economists include Mathematics, Economics and Accounting, English Language, Computers and Electronics, Education and Training.
Knowledge areas required for Economists.
Abilities
Key abilities needed for Economists include Written Comprehension, Written Expression, Deductive Reasoning, Speech Clarity, Oral Expression.
Required abilities for Economists.
Work Activities
Common work activities performed by Economists.
Daily Activities
Economists spend their time on activities such as Analyzing Data or Information, Working with Computers, Processing Information, Getting Information, Making Decisions and Solving Problems.
Most important work activities for Economists.
About
Economists
The average yearly wage for Economists was $128,983 in 2023.
SOC Code
19-3011 - Economists
Insights and Analysis
High earnings profile: Economists reports an average salary of $128,983, placing it among stronger-paying occupations.
Labor market presence: The current workforce is approximately 1,400 workers, indicating sustained demand.
Forward outlook: Projected annual growth is 3.4%, which should inform long-term career planning.
Data Sources
This page uses data from the following sources:
- College Scorecard - U.S. Department of Education
- Institutional characteristics, costs, completion rates, and earnings data
- Data years: 2015-2024
- Source: collegescorecard.ed.gov
- Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS)
- Employment and wage data by occupation
- Latest data: May 2024
- Source: bls.gov/oes
- O*NET Online - U.S. Department of Labor
- Occupational skills, knowledge, abilities, and work activities
- Database version: 28.0 (August 2023)
- Source: onetcenter.org
- IPEDS (Integrated Postsecondary Education Data System) - National Center for Education Statistics
- Institutional data, completions, enrollment, and financial aid
- Data years: 2015-2024
- Source: nces.ed.gov/ipeds
- Census Bureau American Community Survey (ACS)
- Demographic and workforce data
- Latest data: 2023 ACS 5-Year Estimates
- Source: census.gov/acs
Data Processing: All data has been processed, cleaned, and aggregated for presentation. Where specific data points are unavailable, estimates are based on available data and clearly marked.
Last Updated: Data reflects the most recent available information as of January 2025.
Methodology
Data for this profile is sourced from the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), Census Bureau American Community Survey (ACS), and O*NET Online.
All wage figures represent annual averages and may vary by location, industry, and experience level.