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Occupational Employment and Wage Statistics

Occupational Employment and Wages, May 2022

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)
16,370 5.3 % $ 61.63 $ 128,180 2.8 %

Percentile wage estimates for Economists:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $ 30.04 $ 39.33 $ 54.78 $ 75.45 $ 99.63
Annual Wage (2) $ 62,480 $ 81,810 $ 113,940 $ 156,940 $ 207,230


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) 4,440 0.21 $ 64.05 $ 133,220
Management, Scientific, and Technical Consulting Services 3,410 0.19 $ 73.23 $ 152,330
Scientific Research and Development Services 1,740 0.20 $ 59.65 $ 124,060
State Government, excluding schools and hospitals (OEWS Designation) 1,620 0.08 $ 38.87 $ 80,850
Local Government, excluding schools and hospitals (OEWS Designation) 1,190 0.02 $ 43.91 $ 91,330

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 1.22 $ 105.99 $ 220,460
Federal Executive Branch (OEWS Designation) 4,440 0.21 $ 64.05 $ 133,220
Scientific Research and Development Services 1,740 0.20 $ 59.65 $ 124,060
Management, Scientific, and Technical Consulting Services 3,410 0.19 $ 73.23 $ 152,330
Business, Professional, Labor, Political, and Similar Organizations 560 0.13 $ 62.54 $ 130,080

Top paying industries for Economists:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Monetary Authorities-Central Bank 260 1.22 $ 105.99 $ 220,460
Accounting, Tax Preparation, Bookkeeping, and Payroll Services 60 0.01 $ 99.84 $ 207,660
Securities, Commodity Contracts, and Other Financial Investments and Related Activities (8) (8) $ 94.90 $ 197,400
Legal Services 50 (7) $ 91.65 $ 190,640
Nondepository Credit Intermediation 40 0.01 $ 83.90 $ 174,510


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 2022


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 3,910 5.67 51.21 $ 73.01 $ 151,850
California 1,360 0.08 0.70 $ 65.91 $ 137,090
Maryland 990 0.37 3.37 $ 60.23 $ 125,280
New York 940 0.10 0.93 $ 69.61 $ 144,780
Virginia 760 0.20 1.77 $ 60.54 $ 125,930


Map of location quotient of economists by state, May 2022


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 3,910 5.67 51.21 $ 73.01 $ 151,850
Maryland 990 0.37 3.37 $ 60.23 $ 125,280
Alaska 100 0.34 3.06 $ 47.13 $ 98,040
Virginia 760 0.20 1.77 $ 60.54 $ 125,930
Montana 90 0.19 1.75 $ 48.94 $ 101,800


Map of annual mean wages of economists by state, May 2022


Top paying states for Economists:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
District of Columbia 3,910 5.67 51.21 $ 73.01 $ 151,850
New York 940 0.10 0.93 $ 69.61 $ 144,780
Illinois 610 0.10 0.93 $ 68.01 $ 141,460
California 1,360 0.08 0.70 $ 65.91 $ 137,090
Massachusetts (8) (8) (8) $ 62.72 $ 130,460



Map of employment of economists by area, May 2022


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 5,190 1.71 15.49 $ 70.46 $ 146,570
New York-Newark-Jersey City, NY-NJ-PA 840 0.09 0.83 $ 72.90 $ 151,630
Chicago-Naperville-Elgin, IL-IN-WI 530 0.12 1.08 $ 69.65 $ 144,880
Los Angeles-Long Beach-Anaheim, CA 490 0.08 0.72 $ 70.30 $ 146,230
Atlanta-Sandy Springs-Roswell, GA 350 0.13 1.16 (8) (8)
San Francisco-Oakland-Hayward, CA 280 0.12 1.05 $ 73.90 $ 153,710
Portland-Vancouver-Hillsboro, OR-WA 240 0.20 1.83 $ 64.83 $ 134,840
Sacramento--Roseville--Arden-Arcade, CA 220 0.21 1.93 $ 46.25 $ 96,190
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 220 0.08 0.71 $ 56.65 $ 117,840
Seattle-Tacoma-Bellevue, WA 220 0.11 0.96 $ 53.31 $ 110,880


Map of location quotient of economists by area, May 2022


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 5,190 1.71 15.49 $ 70.46 $ 146,570
Olympia-Tumwater, WA 150 1.22 11.00 $ 44.14 $ 91,810
Ann Arbor, MI 100 0.50 4.49 (8) (8)
Harrisburg-Carlisle, PA 150 0.48 4.36 $ 40.64 $ 84,540
Anchorage, AK 50 0.32 2.86 $ 44.81 $ 93,200
Durham-Chapel Hill, NC 100 0.30 2.71 $ 46.90 $ 97,550
Lansing-East Lansing, MI 60 0.28 2.50 (8) (8)
Salem, OR 50 0.27 2.42 $ 49.85 $ 103,690
Tallahassee, FL 40 0.25 2.25 $ 40.44 $ 84,110
Hartford-West Hartford-East Hartford, CT 130 0.22 2.03 $ 51.14 $ 106,380


Map of annual mean wages of economists by area, May 2022


Top paying metropolitan areas for Economists:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Kalamazoo-Portage, MI (8) (8) (8) $ 78.89 $ 164,090
San Jose-Sunnyvale-Santa Clara, CA 70 0.06 0.59 $ 76.52 $ 159,160
San Francisco-Oakland-Hayward, CA 280 0.12 1.05 $ 73.90 $ 153,710
New York-Newark-Jersey City, NY-NJ-PA 840 0.09 0.83 $ 72.90 $ 151,630
Washington-Arlington-Alexandria, DC-VA-MD-WV 5,190 1.71 15.49 $ 70.46 $ 146,570
Los Angeles-Long Beach-Anaheim, CA 490 0.08 0.72 $ 70.30 $ 146,230
Chicago-Naperville-Elgin, IL-IN-WI 530 0.12 1.08 $ 69.65 $ 144,880
San Diego-Carlsbad, CA 80 0.05 0.48 $ 68.08 $ 141,600
Portland-Vancouver-Hillsboro, OR-WA 240 0.20 1.83 $ 64.83 $ 134,840
Houston-The Woodlands-Sugar Land, TX 110 0.04 0.33 $ 63.72 $ 132,540

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 70 0.45 4.06 $ 50.93 $ 105,940
Alaska nonmetropolitan area 50 0.49 4.42 $ 49.97 $ 103,940
Central Kentucky nonmetropolitan area 30 0.18 1.61 $ 37.24 $ 77,450

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 0.49 4.42 $ 49.97 $ 103,940
Southwest Montana nonmetropolitan area 70 0.45 4.06 $ 50.93 $ 105,940
Central Kentucky nonmetropolitan area 30 0.18 1.61 $ 37.24 $ 77,450

Top paying nonmetropolitan areas for Economists:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Southwest Montana nonmetropolitan area 70 0.45 4.06 $ 50.93 $ 105,940
Alaska nonmetropolitan area 50 0.49 4.42 $ 49.97 $ 103,940
Central Kentucky nonmetropolitan area 30 0.18 1.61 $ 37.24 $ 77,450


About May 2022 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.

(7) The value is less than .005 percent of industry employment.

(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 2022 National Occupational Employment and Wage Estimates

May 2022 State Occupational Employment and Wage Estimates

May 2022 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates

May 2022 National Industry-Specific Occupational Employment and Wage Estimates

May 2022 Occupation Profiles

Technical Notes

 

Last Modified Date: April 25, 2023