Department of Labor Logo United States Department of Labor
Dot gov

The .gov means it's official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

Https

The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

Occupational Employment and Wage Statistics
PRINT:Print
OEWS OEWS Program Links

Occupational Employment and Wages, May 2021

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:

Employment estimate and mean wage estimates for Economists:

Employment (1) Employment
RSE (3)
Mean hourly
wage
Mean annual
wage (2)
Wage RSE (3)
15,640 4.5 % $ 58.09 $ 120,830 1.7 %

Percentile wage estimates for Economists:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $ 30.03 $ 38.35 $ 50.79 $ 72.65 $ 93.12
Annual Wage (2) $ 62,460 $ 79,760 $ 105,630 $ 151,110 $ 193,690


Industry profile for Economists:

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) 4,360 0.21 $ 62.06 $ 129,080
Management, Scientific, and Technical Consulting Services 2,800 0.18 $ 61.73 $ 128,400
Scientific Research and Development Services 1,930 0.24 $ 58.02 $ 120,690
State Government, excluding schools and hospitals (OEWS Designation) 1,720 0.08 $ 39.05 $ 81,230
Local Government, excluding schools and hospitals (OEWS Designation) 1,380 0.03 $ 44.36 $ 92,280

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 260 1.24 $ 87.62 $ 182,250
Scientific Research and Development Services 1,930 0.24 $ 58.02 $ 120,690
Federal Executive Branch (OEWS Designation) 4,360 0.21 $ 62.06 $ 129,080
Management, Scientific, and Technical Consulting Services 2,800 0.18 $ 61.73 $ 128,400
Business, Professional, Labor, Political, and Similar Organizations 600 0.15 $ 64.78 $ 134,740

Top paying industries for Economists:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Legal Services (8) (8) $ 92.22 $ 191,820
Monetary Authorities-Central Bank 260 1.24 $ 87.62 $ 182,250
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 300 0.03 $ 86.53 $ 179,980
Nondepository Credit Intermediation 40 0.01 $ 77.04 $ 160,250
Business, Professional, Labor, Political, and Similar Organizations 600 0.15 $ 64.78 $ 134,740


Geographic profile for Economists:

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.



Map of employment of economists by state, May 2021


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 4,160 6.29 56.64 $ 67.64 $ 140,690
California 1,760 0.11 0.96 $ 66.04 $ 137,350
Maryland 1,030 0.40 3.64 $ 58.99 $ 122,690
Virginia 800 0.21 1.91 $ 58.06 $ 120,770
New York 770 0.09 0.80 $ 73.47 $ 152,810


Map of location quotient of economists by state, May 2021


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 4,160 6.29 56.64 $ 67.64 $ 140,690
Maryland 1,030 0.40 3.64 $ 58.99 $ 122,690
Alaska 90 0.31 2.80 $ 53.52 $ 111,310
Virginia 800 0.21 1.91 $ 58.06 $ 120,770
Massachusetts 600 0.18 1.59 $ 58.25 $ 121,160


Map of annual mean wages of economists by state, May 2021


Top paying states for Economists:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
New York 770 0.09 0.80 $ 73.47 $ 152,810
District of Columbia 4,160 6.29 56.64 $ 67.64 $ 140,690
California 1,760 0.11 0.96 $ 66.04 $ 137,350
New Hampshire (8) (8) (8) $ 60.04 $ 124,880
Illinois 250 0.04 0.40 $ 59.87 $ 124,530



Map of employment of economists by area, May 2021


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 5,520 1.88 16.96 $ 66.02 $ 137,320
New York-Newark-Jersey City, NY-NJ-PA 670 0.08 0.70 $ 78.30 $ 162,870
Los Angeles-Long Beach-Anaheim, CA 640 0.11 1.00 $ 68.03 $ 141,500
Boston-Cambridge-Nashua, MA-NH 550 0.21 1.92 $ 58.88 $ 122,480
San Francisco-Oakland-Hayward, CA 420 0.19 1.69 $ 77.56 $ 161,320
Atlanta-Sandy Springs-Roswell, GA 330 0.13 1.16 (8) (8)
Sacramento--Roseville--Arden-Arcade, CA 230 0.23 2.10 $ 46.82 $ 97,380
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 230 0.08 0.76 $ 55.37 $ 115,170
Dallas-Fort Worth-Arlington, TX 220 0.06 0.55 $ 56.06 $ 116,600
Seattle-Tacoma-Bellevue, WA 210 0.11 1.01 $ 56.86 $ 118,260


Map of location quotient of economists by area, May 2021


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 5,520 1.88 16.96 $ 66.02 $ 137,320
Olympia-Tumwater, WA 150 1.30 11.74 $ 45.48 $ 94,590
Harrisburg-Carlisle, PA 160 0.51 4.60 $ 38.07 $ 79,190
Salem, OR 60 0.34 3.07 $ 51.28 $ 106,650
Tallahassee, FL 50 0.32 2.88 $ 38.29 $ 79,650
Madison, WI 120 0.32 2.85 $ 35.68 $ 74,210
Ann Arbor, MI 50 0.26 2.33 $ 52.45 $ 109,090
Lansing-East Lansing, MI 50 0.25 2.25 $ 46.73 $ 97,190
Boulder, CO 40 0.24 2.12 $ 52.73 $ 109,690
Sacramento--Roseville--Arden-Arcade, CA 230 0.23 2.10 $ 46.82 $ 97,380


Map of annual mean wages of economists by area, May 2021


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 670 0.08 0.70 $ 78.30 $ 162,870
San Francisco-Oakland-Hayward, CA 420 0.19 1.69 $ 77.56 $ 161,320
San Jose-Sunnyvale-Santa Clara, CA 90 0.08 0.75 $ 75.17 $ 156,360
Los Angeles-Long Beach-Anaheim, CA 640 0.11 1.00 $ 68.03 $ 141,500
Washington-Arlington-Alexandria, DC-VA-MD-WV 5,520 1.88 16.96 $ 66.02 $ 137,320
Chicago-Naperville-Elgin, IL-IN-WI 210 0.05 0.44 $ 61.37 $ 127,640
Boston-Cambridge-Nashua, MA-NH 550 0.21 1.92 $ 58.88 $ 122,480
San Diego-Carlsbad, CA 120 0.09 0.78 $ 58.76 $ 122,220
Baltimore-Columbia-Towson, MD 170 0.13 1.21 $ 58.51 $ 121,690
Miami-Fort Lauderdale-West Palm Beach, FL (8) (8) (8) $ 58.46 $ 121,610

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)
Alaska nonmetropolitan area 50 0.50 4.49 $ 55.21 $ 114,830
Southwest Montana nonmetropolitan area 40 0.29 2.60 $ 39.88 $ 82,950
Northwest Oklahoma nonmetropolitan area 40 0.38 3.45 $ 56.88 $ 118,320
Central Kentucky nonmetropolitan area 30 0.18 1.66 $ 30.41 $ 63,250

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 50 0.50 4.49 $ 55.21 $ 114,830
Northwest Oklahoma nonmetropolitan area 40 0.38 3.45 $ 56.88 $ 118,320
Southwest Montana nonmetropolitan area 40 0.29 2.60 $ 39.88 $ 82,950
Central Kentucky nonmetropolitan area 30 0.18 1.66 $ 30.41 $ 63,250

Top paying nonmetropolitan areas for Economists:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Northwest Oklahoma nonmetropolitan area 40 0.38 3.45 $ 56.88 $ 118,320
Alaska nonmetropolitan area 50 0.50 4.49 $ 55.21 $ 114,830
Southwest Montana nonmetropolitan area 40 0.29 2.60 $ 39.88 $ 82,950
Central Kentucky nonmetropolitan area 30 0.18 1.66 $ 30.41 $ 63,250


About May 2021 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 2021 National Occupational Employment and Wage Estimates

May 2021 State Occupational Employment and Wage Estimates

May 2021 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates

May 2021 National Industry-Specific Occupational Employment and Wage Estimates

May 2021 Occupation Profiles

Technical Notes

 

Last Modified Date: March 31, 2022