Top Skills for This Career
BLS identifies these as the three highest-rated skills for this detailed occupation. TrustInEd adds the plain-language explanations so visitors understand what each skill means.
Understanding written information and communicating ideas clearly in writing.
Using numbers, measurements, formulas, quantitative reasoning, and mathematical concepts.
Examining information carefully, recognizing patterns, and using evidence to reach sound conclusions.
How Do You Prepare for This Career?
BLS describes the typical preparation for this occupation. Requirements can vary by employer, state, licensing rules and individual circumstances.
How to Become One
How to Become an Economist Communication skills are important for economists, since they sometimes present research to colleagues. Economists typically need at least a master’s degree to enter the occupation. However, some economists—primarily in government—qualify for positions with a bachelor’s degree. Others need a Ph.D.
Education
Economists typically need a master’s degree. Positions in business, research, or international organizations may require a master’s degree or Ph.D. and work experience. To pursue an advanced degree in economics, program applicants may need to have completed undergraduate coursework in subjects such as economics or mathematics. Candidates who have a bachelor’s degree with sufficient course credits in economics, statistics, or mathematics may qualify for some entry-level economist positions, including jobs with the federal government. Courses that introduce students to statistical analysis software also may be helpful. An advanced degree is sometimes required or preferred for higher level positions.
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Pay
the median annual wage for all workers was $50,980.
Job Outlook
Job Outlook Employment of economists is projected to grow 5 percent from 2025 to 2035, faster than the average for all occupations. About 1,100 openings for economists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. Employment Organizations across many industries use economic analysis and quantitative methods to study and forecast business, sales, and other market trends. Employment demand will stem from organizations that turn to economists to apply analysis of big data to pricing, advertising, and other areas. The increasing complexity of the global economy also is expected to support demand for economists. However, employment of these workers will depend, in part, on future changes to federal, state, and local government budgets. Economists Percent change in employment, projected 2025–35 Economists 5% Social scientists and related workers 4% Total, all occupations 3% Note: All Occupations includes all occupations in the U.S. Economy.
What They Do
What Economists Do
Economists conduct research, prepare reports, and evaluate issues related to monetary and fiscal policy. They also may collect and analyze statistical data.
Duties
Economists typically do the following:
- Research economic issues related to education, the labor force, international trade, and other topics
- Conduct surveys and collect data
- Analyze data using mathematical models, statistical tools, and other software
- Interpret and forecast trends, such as of financial markets
- Advise businesses, governments, and individuals on problems related to fiscal policy or other economic topics
- Present research in tables, graphs, and articles for academic journals, government publications, and other media
Economists analyze topics related to the production, distribution, and use (consumption) of goods and services. They work in or across a variety of fields, such as business, health, and the environment. For example, some economists study the cost of products, healthcare, or energy, while others examine employment levels and trends, business cycles, inflation, or interest rates.
Economists study historical trends and make forecasts, using software to analyze data. The focus of their research may vary, depending on their employer
Economists who work in federal, state, and local government may collect and analyze data about the economy, including employment, prices, productivity, and wages. For example, they may evaluate various economic policies or proposals to inform policymakers about the impact of laws and regulations.
Business economists help managers understand the economy to inform their decision making. For example, economists may analyze consumer demand and sales to help a company maximize its profits.
Economists also work for international organizations, research firms, and consulting firms. They may present their findings to a variety of audiences or publish their analyses and forecasts in newspapers, journals, or other media.
Work Environment
Work Environment
Economists held about 18,600 jobs in 2025. The largest employers of economists were as follows:
| Federal government, excluding postal service | 26% |
| Management, scientific, and technical consulting services | 22 |
| State government, excluding education and hospitals | 14 |
| Local government, excluding education and hospitals | 9 |
| Scientific research and development services | 6 |
Economists typically work in an office setting. They often work independently, but they also may collaborate with data scientists, statisticians, or other specialists. Some economists may be required to travel, such as to attend conferences.
Work Schedules
Most economists work full time, and some work more than 40 hours per week.
Important Qualities
The following are examples of qualities that are important for these workers to perform their duties. For more information, visit the Employment Projections (EP) skills data page. Analytical skills. Economists must be able to review data and observe patterns to draw logical conclusions. Communication skills. Economists must be able to explain their work through presentations and in written reports. Their audiences may vary from colleagues and other economists to those who do not have a background in economics. Computer skills. Economists often use statistical analysis and other software to analyze data. Critical-thinking skills. Economists must use sound reasoning to solve complex problems. Math skills. Economists use mathematics, including calculus and linear algebra, to develop models and analyses.
More Information
More Information, Including Links to O*NET
Learn more about economists by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
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Start with ED →Career data and occupational profile text are sourced from the U.S. Bureau of Labor Statistics Occupational Outlook Handbook and Employment Projections program. Education requirements are typical entry-level requirements and may vary by employer, state, occupation or individual circumstance. View the official BLS profile.