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Occupational Employment and Wage Statistics
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Occupational Employment and Wages, May 2020

19-3011 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. Excludes "Market Research Analysts and Marketing Specialists" (13-1161).


National estimates for Economists
Industry profile for Economists
Geographic profile for Economists

National estimates for Economists: Top

Employment estimate and mean wage estimates for Economists:

Employment (1) Employment
RSE (3)
Mean hourly
wage
Mean annual
wage (2)
Wage RSE (3)
17,520 3.3 % $ 58.11 $ 120,880 1.5 %

Percentile wage estimates for Economists:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $ 28.47 $ 38.39 $ 52.09 $ 72.70 $ 95.30
Annual Wage (2) $ 59,220 $ 79,860 $ 108,350 $ 151,210 $ 198,230


Industry profile for Economists: Top

Industries with the highest published employment and wages for Economists are provided. For a list of all industries with employment in Economists, see the Create Customized Tables function.

Industries with the highest levels of employment in Economists:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Federal Executive Branch (OEWS Designation) 4,230 0.20 $ 61.85 $ 128,640
Management, Scientific, and Technical Consulting Services 3,220 0.21 $ 65.45 $ 136,140
Scientific Research and Development Services 2,640 0.35 $ 63.71 $ 132,510
State Government, excluding schools and hospitals (OEWS Designation) 1,880 0.09 $ 36.33 $ 75,560
Local Government, excluding schools and hospitals (OEWS Designation) 1,340 0.02 $ 41.90 $ 87,150

Industries with the highest concentration of employment in Economists:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Monetary Authorities-Central Bank 350 1.77 $ 75.37 $ 156,770
Scientific Research and Development Services 2,640 0.35 $ 63.71 $ 132,510
Management, Scientific, and Technical Consulting Services 3,220 0.21 $ 65.45 $ 136,140
Federal Executive Branch (OEWS Designation) 4,230 0.20 $ 61.85 $ 128,640
Business, Professional, Labor, Political, and Similar Organizations 600 0.14 $ 57.91 $ 120,450

Top paying industries for Economists:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Legal Services (8) (8) $ 104.31 $ 216,960
Monetary Authorities-Central Bank 350 1.77 $ 75.37 $ 156,770
Other Professional, Scientific, and Technical Services 220 0.03 $ 68.88 $ 143,270
Management, Scientific, and Technical Consulting Services 3,220 0.21 $ 65.45 $ 136,140
Scientific Research and Development Services 2,640 0.35 $ 63.71 $ 132,510


Geographic profile for Economists: Top

States and areas with the highest published employment, location quotients, and wages for Economists are provided. For a list of all areas with employment in Economists, see the Create Customized Tables function.





States with the highest employment level in Economists:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
District of Columbia 5,300 7.71 61.19 $ 69.29 $ 144,110
California 2,020 0.12 0.98 $ 63.22 $ 131,500
Virginia 980 0.27 2.11 (8) (8)
New York 850 0.10 0.78 $ 72.19 $ 150,160
Maryland 800 0.32 2.52 $ 61.04 $ 126,960




States with the highest concentration of jobs and location quotients in Economists:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
District of Columbia 5,300 7.71 61.19 $ 69.29 $ 144,110
Maryland 800 0.32 2.52 $ 61.04 $ 126,960
Alaska 80 0.27 2.11 $ 44.99 $ 93,570
Virginia 980 0.27 2.11 (8) (8)
Massachusetts 610 0.18 1.44 $ 53.63 $ 111,550




Top paying states for Economists:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
New York 850 0.10 0.78 $ 72.19 $ 150,160
District of Columbia 5,300 7.71 61.19 $ 69.29 $ 144,110
California 2,020 0.12 0.98 $ 63.22 $ 131,500
Maryland 800 0.32 2.52 $ 61.04 $ 126,960
Vermont 40 0.14 1.13 $ 56.84 $ 118,230





Metropolitan areas with the highest employment level in Economists:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Washington-Arlington-Alexandria, DC-VA-MD-WV 6,700 2.22 17.61 $ 68.55 $ 142,580
San Francisco-Oakland-Hayward, CA 900 0.39 3.06 $ 71.63 $ 148,980
New York-Newark-Jersey City, NY-NJ-PA 820 0.09 0.73 $ 73.85 $ 153,610
Boston-Cambridge-Nashua, MA-NH 560 0.22 1.71 $ 52.39 $ 108,970
Los Angeles-Long Beach-Anaheim, CA 490 0.08 0.67 $ 63.67 $ 132,430
Chicago-Naperville-Elgin, IL-IN-WI 370 0.08 0.67 $ 56.12 $ 116,730
Atlanta-Sandy Springs-Roswell, GA 280 0.11 0.85 $ 50.34 $ 104,700
Sacramento--Roseville--Arden-Arcade, CA 270 0.27 2.17 $ 42.25 $ 87,880
Seattle-Tacoma-Bellevue, WA 230 0.12 0.94 $ 59.42 $ 123,600
Miami-Fort Lauderdale-West Palm Beach, FL 200 0.08 0.65 (8) (8)




Metropolitan areas with the highest concentration of jobs and location quotients in Economists:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Washington-Arlington-Alexandria, DC-VA-MD-WV 6,700 2.22 17.61 $ 68.55 $ 142,580
Olympia-Tumwater, WA 150 1.34 10.66 $ 43.30 $ 90,060
Harrisburg-Carlisle, PA 180 0.59 4.70 $ 33.75 $ 70,190
College Station-Bryan, TX 60 0.57 4.51 $ 29.54 $ 61,450
Columbia, SC 190 0.50 3.97 $ 28.70 $ 59,700
Boulder, CO 70 0.41 3.27 $ 55.44 $ 115,320
San Francisco-Oakland-Hayward, CA 900 0.39 3.06 $ 71.63 $ 148,980
Ann Arbor, MI 60 0.30 2.35 $ 52.55 $ 109,310
Tallahassee, FL 50 0.29 2.27 $ 40.31 $ 83,840
Lansing-East Lansing, MI 60 0.29 2.27 $ 44.80 $ 93,180




Top paying metropolitan areas for Economists:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
New York-Newark-Jersey City, NY-NJ-PA 820 0.09 0.73 $ 73.85 $ 153,610
San Francisco-Oakland-Hayward, CA 900 0.39 3.06 $ 71.63 $ 148,980
Washington-Arlington-Alexandria, DC-VA-MD-WV 6,700 2.22 17.61 $ 68.55 $ 142,580
Baltimore-Columbia-Towson, MD 160 0.12 0.96 $ 65.96 $ 137,200
Los Angeles-Long Beach-Anaheim, CA 490 0.08 0.67 $ 63.67 $ 132,430
Cleveland-Elyria, OH 30 0.03 0.27 $ 62.59 $ 130,190
Tampa-St. Petersburg-Clearwater, FL 100 0.07 0.58 $ 60.87 $ 126,600
Seattle-Tacoma-Bellevue, WA 230 0.12 0.94 $ 59.42 $ 123,600
San Jose-Sunnyvale-Santa Clara, CA 50 0.05 0.38 $ 58.49 $ 121,650
Ogden-Clearfield, UT (8) (8) (8) $ 57.39 $ 119,370

Nonmetropolitan areas with the highest employment in Economists:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Southwest Montana nonmetropolitan area 40 0.32 2.56 $ 37.17 $ 77,320
Alaska nonmetropolitan area 40 0.43 3.39 $ 50.61 $ 105,280

Nonmetropolitan areas with the highest concentration of jobs and location quotients in Economists:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Alaska nonmetropolitan area 40 0.43 3.39 $ 50.61 $ 105,280
Southwest Montana nonmetropolitan area 40 0.32 2.56 $ 37.17 $ 77,320

Top paying nonmetropolitan areas for Economists:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Alaska nonmetropolitan area 40 0.43 3.39 $ 50.61 $ 105,280
Northwest Oklahoma nonmetropolitan area (8) (8) (8) $ 47.78 $ 99,390
West Northwestern Ohio nonmetropolitan area (8) (8) (8) $ 44.71 $ 93,000
Southwest Montana nonmetropolitan area 40 0.32 2.56 $ 37.17 $ 77,320


About May 2020 National, State, Metropolitan, and Nonmetropolitan Area Occupational Employment and Wage Estimates

These estimates are calculated with data collected from employers in all industry sectors, all metropolitan and nonmetropolitan areas, and all states and the District of Columbia. The top employment and wage figures are provided above. The complete list is available in the downloadable XLS files.

The percentile wage estimate is the value of a wage below which a certain percent of workers fall. The median wage is the 50th percentile wage estimate—50 percent of workers earn less than the median and 50 percent of workers earn more than the median. More about percentile wages.


(1) Estimates for detailed occupations do not sum to the totals because the totals include occupations not shown separately. Estimates do not include self-employed workers.

(2) Annual wages have been calculated by multiplying the hourly mean wage by a "year-round, full-time" hours figure of 2,080 hours; for those occupations where there is not an hourly wage published, the annual wage has been directly calculated from the reported survey data.

(3) The relative standard error (RSE) is a measure of the reliability of a survey statistic. The smaller the relative standard error, the more precise the estimate.

(8) Estimate not released.

(9) The location quotient is the ratio of the area concentration of occupational employment to the national average concentration. A location quotient greater than one indicates the occupation has a higher share of employment than average, and a location quotient less than one indicates the occupation is less prevalent in the area than average.


Other OEWS estimates and related information:

May 2020 National Occupational Employment and Wage Estimates

May 2020 State Occupational Employment and Wage Estimates

May 2020 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates

May 2020 National Industry-Specific Occupational Employment and Wage Estimates

May 2020 Occupation Profiles

Technical Notes

 

Last Modified Date: March 31, 2021