Salary and Outlook
According to the US Department of Labor, there are 18,600 people employed as economists in
the United States.
The median annual salary is $108,400.
Entry level employees earn approximately $59,220 per year and senior employees earn approximately $198,230
Estimates do not include other potential benefits such as health insurance, overtime pay, or retirement benefits that may be offered by employers.
- Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
- Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
- Explain economic impact of policies to the public.
- Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
- Forecast production and consumption of renewable resources and supply, consumption, and depletion of non-renewable resources.
- Develop economic guidelines and standards, and prepare points of view used in forecasting trends and formulating economic policy.
- Testify at regulatory or legislative hearings concerning the estimated effects of changes in legislation or public policy, and present recommendations based on cost-benefit analyses.
- Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.
- Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
- Conduct research on economic issues, and disseminate research findings through technical reports or scientific articles in journals.
- Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
- Supervise research projects and students' study projects.
- Teach theories, principles, and methods of economics.