DETAILED OCCUPATION DATA
19-3011 Economists
Occupational Description:
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).| Percentiles | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Geography | Employment | Emp SE* | Mean | Mean SE* | 10th | 25th | Median | 75th | 90th |
| Southwest Minnesota | N/A | 3 | N/A | $1.76/hr | N/A | N/A | N/A | N/A | N/A |
| Minnesota | 160 | 10 | $48.84/hr | $0.98/hr | $31.27/hr | $38.58/hr | $47.64/hr | $58.88/hr | $70.80/hr |
| U S | 19,000 | 817 | $56.65/hr | $0.79/hr | $28.88/hr | $38.28/hr | $51.01/hr | $69.77/hr | $89.87/hr |
| *SE = Standard error, a measure of the statistical reliability of the estimate. | |||||||||
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| Occupation (click title for details) | OES | Projections | |
|---|---|---|---|
| Employment | Median Wage | % Change 2022 - 2032 | |
| Accountants and Auditors | 970 | $29.79/hr | 4.4% |
| Credit Analysts | 130 | $29.47/hr | -3.5% |
| Purchasing Managers | 90 | $48.73/hr | 4.0% |
| Financial Examiners | 60 | $41.80/hr | 23.3% |
| Budget Analysts | 10 | $31.01/hr | N/A |
| Farm and Home Management Advisors | 10 | $26.27/hr | N/A |
| Operations Research Analysts | N/A | N/A | -5.6% |
Tasks for Economists
- Studies economic and statistical data in area of specialization, such as finance, labor, or agriculture.
- Formulates recommendations, policies, or plans to interpret markets or solve economic problems.
- Develops economic guidelines and standards and preparing points of view used in forecasting trends and formulating economic policy.
- Devises methods and procedures for collecting and processing data, using various econometric and sampling techniques.
- Assigns work to staff.
- Teaches theories, principles, and methods of economics.
- Testifies at regulatory or legislative hearings to present recommendations.
- Provides advice and consultation to business and public and private agencies.
- Supervises research projects and students' study projects.
- Compiles data relating to research area, such as employment, productivity, and wages and hours.
- Reviews and analyzes data to prepare reports, to forecast future marketing trends, and to stay abreast of economic changes.
- Organizes research data into report format, including graphic illustrations of research findings.
