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Last updated on September 6, 20231, the BLS reports that the number of positions for economists from 2022 through 2032 is expected to grow at a rate of 6% over the decade. This is roughly twice as fast as the economy-wide average; the BLS states that ?The average growth rate for all occupations is 3 percent?.
Economists and Economic Policy Researchers and Analysts are in high demand throughout Canada's Private, Public, and Government Service sectors.
The estimated total pay for a Economist is $151,615 per year in the United States area, with an average salary of $114,175 per year. These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users.
The workforce of Economists in 2021 was 31,573 people, with 32% woman, and 68% men. The age ranges that concentrated the largest workforce were 30 to 34 years (4,532 people), 35 to 39 years (4,466 people), and 40 to 44 years (4,187 people).
A bachelor's degree in economics is enough for an entry-level position, but high-earning jobs in competitive industries may require a master's degree in finance or business administration. ing to the BLS, average salaries vary widely depending on the industry.
With a projected growth rate of 6% by 2031, the job outlook for economists continues to grow as quickly as the expected rate for other occupations. This growth is driven by the increasing need for data analysis and economic expertise in a wide range of industries and organizations.
Approximately one-third of all economists are employed by the government. Financial Institution Examiners ensure compliance with laws governing financial institutions and transactions. They review balance sheets, evaluate the risk level of loans, and assess bank management.
The job outlook is the change in the number of people that are employed in a certain occupation over a selected period of time. The period of time is usually two, five, or ten years.