Economists
Economists (SOC 19-3011) earn a median $124,720 a year ($59.96 an hour) in the United States, with 17,790 employed as of May 2025; the highest-paying state is District of Columbia.
What economists do
Economists study how goods, services, labor, and money are produced and distributed, and they apply that knowledge to practical questions of policy, markets, and business decisions. Typical tasks include collecting and analyzing economic and statistical data in an area such as finance, labor, or agriculture, using sampling and econometric methods, compiling and reporting data to explain economic phenomena and forecast market trends, and studying the socioeconomic effects of proposed policies, such as new laws or tax changes. They explain the economic impact of those policies to the public. The occupation differs from market research analysts, who focus on consumer demand for particular products, from financial analysts, who evaluate investments, and from survey researchers, who design and conduct surveys without necessarily interpreting economic questions. Advice and consultation on economic relationships for businesses and for public and private agencies is another part of the work, and some economists supervise research projects and student study projects.
Typical entry: According to O*NET, the most commonly reported education level is a master's degree.
Also called: Business Economist, Agricultural Economist, Econometrician, Economic Advisor, Consultant Economist.
National wage percentiles, May 2025
| Area | Basis | Percentile wage | Mean | Employment | ||||
|---|---|---|---|---|---|---|---|---|
| 10th | 25th | Median | 75th | 90th | ||||
| United States | Hourly | $32.38 | $42.95 | $59.96 | $84.00 | $114.45 | $68.33 | 17,790 |
| Annual | $67,360 | $89,330 | $124,720 | $174,720 | $238,060 | $142,130 | ||
Employment per 1,000 jobs and the location quotient are area measures; they appear in the state and metro tables below. To see what a wage in this range leaves after tax, use FastCalc's take-home pay calculator.
Where economists earn and work most
Five highest-paying states
| Area | Basis | Percentile wage | Mean | Employment | Jobs per 1,000 | Location quotient | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| 10th | 25th | Median | 75th | 90th | ||||||
| District of Columbia | Hourly | $47.29 | $55.73 | $80.57 | $107.73 | $143.81 | $84.18 | 3,000 | 4.27 | 37.34 |
| Annual | $98,350 | $115,910 | $167,590 | $224,080 | $299,110 | $175,100 | ||||
| New Jersey | Hourly | $40.38 | $61.03 | $80.55 | $92.77 | $93.84 | $77.88 | 280 | 0.07 | 0.57 |
| Annual | $83,990 | $126,940 | $167,550 | $192,960 | $195,190 | $161,990 | ||||
| Delaware | Hourly | $35.91 | $49.17 | $76.50 | $80.49 | $102.88 | $71.64 | 70 | 0.14 | 1.22 |
| Annual | $74,690 | $102,270 | $159,120 | $167,430 | $214,000 | $149,020 | ||||
| Maryland | Hourly | $45.05 | $56.95 | $69.56 | $85.95 | $93.84 | $70.48 | 1,130 | 0.41 | 3.56 |
| Annual | $93,710 | $118,460 | $144,680 | $178,780 | $195,190 | $146,600 | ||||
| Kansas | Hourly | $32.51 | $56.64 | $66.72 | $98.94 | $114.90 | $72.57 | 80 | 0.06 | 0.50 |
| Annual | $67,610 | $117,810 | $138,790 | $205,780 | $238,990 | $150,950 | ||||
Five states with the most jobs
| Area | Basis | Percentile wage | Mean | Employment | Jobs per 1,000 | Location quotient | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| 10th | 25th | Median | 75th | 90th | ||||||
| District of Columbia | Hourly | $47.29 | $55.73 | $80.57 | $107.73 | $143.81 | $84.18 | 3,000 | 4.27 | 37.34 |
| Annual | $98,350 | $115,910 | $167,590 | $224,080 | $299,110 | $175,100 | ||||
| Maryland | Hourly | $45.05 | $56.95 | $69.56 | $85.95 | $93.84 | $70.48 | 1,130 | 0.41 | 3.56 |
| Annual | $93,710 | $118,460 | $144,680 | $178,780 | $195,190 | $146,600 | ||||
| Massachusetts | Hourly | $35.62 | $44.08 | $51.14 | $74.58 | $107.03 | $64.07 | 1,030 | 0.28 | 2.48 |
| Annual | $74,080 | $91,690 | $106,380 | $155,130 | $222,610 | $133,270 | ||||
| Virginia | Hourly | $35.87 | $45.15 | $66.15 | $86.41 | $111.73 | $69.66 | 950 | 0.23 | 2.01 |
| Annual | $74,600 | $93,920 | $137,590 | $179,730 | $232,410 | $144,880 | ||||
| New York | Hourly | $39.49 | $50.20 | $65.70 | $108.17 | $140.80 | $81.05 | 910 | 0.09 | 0.82 |
| Annual | $82,130 | $104,420 | $136,660 | $224,990 | $292,850 | $168,580 | ||||
Five highest-paying metropolitan areas
| Area | Basis | Percentile wage | Mean | Employment | Jobs per 1,000 | Location quotient | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| 10th | 25th | Median | 75th | 90th | ||||||
| New York-Newark-Jersey City, NY-NJ | Hourly | $41.80 | $58.57 | $84.66 | $110.37 | $143.21 | $88.87 | 850 | 0.09 | 0.78 |
| Annual | $86,930 | $121,830 | $176,090 | $229,570 | $297,870 | $184,860 | ||||
| Washington-Arlington-Alexandria, DC-VA-MD-WV | Hourly | $44.92 | $55.69 | $75.36 | $93.84 | $124.66 | $79.88 | 4,570 | 1.46 | 12.74 |
| Annual | $93,440 | $115,830 | $156,750 | $195,190 | $259,290 | $166,140 | ||||
| Baltimore-Columbia-Towson, MD | Hourly | $38.76 | $52.50 | $73.43 | $84.48 | $93.84 | $71.06 | 110 | 0.08 | 0.71 |
| Annual | $80,630 | $109,200 | $152,730 | $175,720 | $195,190 | $147,800 | ||||
| Durham-Chapel Hill, NC | Hourly | $39.28 | $63.48 | $73.14 | $95.32 | $107.82 | $76.59 | 120 | 0.35 | 3.02 |
| Annual | $81,700 | $132,040 | $152,130 | $198,260 | $224,270 | $159,310 | ||||
| Los Angeles-Long Beach-Anaheim, CA | Hourly | $40.81 | $52.28 | $72.84 | $88.41 | $123.56 | $74.93 | 200 | 0.03 | 0.28 |
| Annual | $84,880 | $108,730 | $151,510 | $183,890 | $257,000 | $155,860 | ||||
Five metropolitan areas with the most jobs
| Area | Basis | Percentile wage | Mean | Employment | Jobs per 1,000 | Location quotient | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| 10th | 25th | Median | 75th | 90th | ||||||
| Washington-Arlington-Alexandria, DC-VA-MD-WV | Hourly | $44.92 | $55.69 | $75.36 | $93.84 | $124.66 | $79.88 | 4,570 | 1.46 | 12.74 |
| Annual | $93,440 | $115,830 | $156,750 | $195,190 | $259,290 | $166,140 | ||||
| New York-Newark-Jersey City, NY-NJ | Hourly | $41.80 | $58.57 | $84.66 | $110.37 | $143.21 | $88.87 | 850 | 0.09 | 0.78 |
| Annual | $86,930 | $121,830 | $176,090 | $229,570 | $297,870 | $184,860 | ||||
| Boston-Cambridge-Newton, MA-NH | Hourly | $35.62 | $43.88 | $51.99 | $77.76 | $109.24 | $65.91 | 820 | 0.30 | 2.65 |
| Annual | $74,080 | $91,270 | $108,140 | $161,740 | $227,210 | $137,090 | ||||
| Sacramento-Roseville-Folsom, CA | Hourly | $30.75 | $36.99 | $48.27 | $54.35 | $66.42 | $48.89 | 250 | 0.23 | 2.02 |
| Annual | $63,960 | $76,930 | $100,410 | $113,050 | $138,150 | $101,690 | ||||
| Atlanta-Sandy Springs-Roswell, GA | Hourly | $39.36 | $48.16 | $58.93 | $75.97 | $90.06 | $63.89 | 220 | 0.08 | 0.66 |
| Annual | $81,880 | $100,180 | $122,570 | $158,020 | $187,330 | $132,880 | ||||
Top industries employing economists
Federal Executive Branch (OEWS Designation) employ 25.5% of economists nationally (4,540 jobs) at a median $144,680 a year ($69.56 an hour), followed by Management, Scientific, and Technical Consulting Services (22.7%) and State Government, excluding Schools and Hospitals (OEWS Designation) (14.1%).
| Industry | Employment | Share of occupation | Median annual | Median hourly |
|---|---|---|---|---|
| Federal Executive Branch (OEWS Designation) NAICS 999100 | 4,540 | 25.5% | $144,680 | $69.56 |
| Management, Scientific, and Technical Consulting Services NAICS 541600 | 4,030 | 22.7% | $141,010 | $67.79 |
| State Government, excluding Schools and Hospitals (OEWS Designation) NAICS 999200 | 2,500 | 14.1% | $78,080 | $37.54 |
| Local Government, excluding Schools and Hospitals (OEWS Designation) NAICS 999300 | 1,580 | 8.9% | $100,370 | $48.26 |
| Scientific Research and Development Services NAICS 541700 | 1,160 | 6.5% | $139,880 | $67.25 |
Share is the industry's employment over the occupation's national employment (17,790). Industries whose employment BLS withheld are not ranked.
Published medians, May 2021 to May 2025
BLS published a median annual wage of $105,630 for economists in May 2021 and $124,720 in May 2025, with employment of 15,640 and 17,790.
| Release | Median annual | Median hourly | Employment |
|---|---|---|---|
| May 2021 | $105,630 | $50.79 | 15,640 |
| May 2022 | $113,940 | $54.78 | 16,370 |
| May 2023 | $115,730 | $55.64 | 16,420 |
| May 2024 | $115,440 | $55.50 | 15,880 |
| May 2025 | $124,720 | $59.96 | 17,790 |
BLS does not design OEWS as a time series: each release pools three years of samples, and occupational classifications, area definitions and estimation methods change between releases, so a difference between two releases is not a measure of change over time. The figures are shown as published, side by side, and nothing is computed from them. See how often OEWS is updated.
Every state, by median wage
42 states and DC publish a row for this occupation. A linked state has its own page with the within-state metro table and comparison; the others appear here only.
| Rank | State | Median hourly | Median annual | 10th pct (annual) | 90th pct (annual) | Employment | Jobs per 1,000 | Location quotient |
|---|---|---|---|---|---|---|---|---|
| 1 | District of Columbia profile | $80.57 | $167,590 | $98,350 | $299,110 | 3,000 | 4.27 | 37.34 |
| 2 | New Jersey profile | $80.55 | $167,550 | $83,990 | $195,190 | 280 | 0.07 | 0.57 |
| 3 | Delaware profile | $76.50 | $159,120 | $74,690 | $214,000 | 70 | 0.14 | 1.22 |
| 4 | Maryland profile | $69.56 | $144,680 | $93,710 | $195,190 | 1,130 | 0.41 | 3.56 |
| 5 | Kansas profile | $66.72 | $138,790 | $67,610 | $238,990 | 80 | 0.06 | 0.50 |
| 6 | Virginia profile | $66.15 | $137,590 | $74,600 | $232,410 | 950 | 0.23 | 2.01 |
| 7 | New York profile | $65.70 | $136,660 | $82,130 | $292,850 | 910 | 0.09 | 0.82 |
| 8 | North Carolina profile | $65.46 | $136,150 | $35,460 | $224,270 | 290 | 0.06 | 0.52 |
| 9 | Idaho profile | $63.11 | $131,270 | $55,180 | $173,560 | 130 | 0.15 | 1.31 |
| 10 | Alabama profile | $62.48 | $129,960 | $74,520 | $175,170 | 40 | 0.02 | 0.15 |
| 11 | Georgia profile | $58.93 | $122,570 | $78,190 | $187,330 | 260 | 0.05 | 0.46 |
| 12 | Oregon profile | $58.71 | $122,120 | $81,620 | $147,600 | 320 | 0.16 | 1.43 |
| 13 | Texas profile | $58.38 | $121,420 | $66,760 | $219,140 | 560 | 0.04 | 0.34 |
| 14 | Colorado profile | $58.37 | $121,410 | $73,450 | $193,480 | 240 | 0.09 | 0.74 |
| 15 | Ohio profile | $57.69 | $120,000 | $69,770 | $216,920 | 140 | 0.03 | 0.22 |
| 16 | California profile | $57.41 | $119,410 | $74,030 | $207,380 | 860 | 0.05 | 0.41 |
| 17 | Tennessee profile | $56.56 | $117,650 | $83,610 | $162,670 | 80 | 0.02 | 0.21 |
| 18 | Missouri profile | $56.26 | $117,010 | $73,260 | $229,510 | 280 | 0.10 | 0.84 |
| 19 | Pennsylvania profile | $55.29 | $115,000 | $64,500 | $164,650 | 560 | 0.09 | 0.81 |
| 20 | Alaska profile | $53.39 | $111,040 | $80,110 | $141,270 | 80 | 0.25 | 2.18 |
| 21 | Washington profile | $52.55 | $109,300 | $80,320 | $167,960 | 450 | 0.13 | 1.10 |
| 22 | Massachusetts profile | $51.14 | $106,380 | $74,080 | $222,610 | 1,030 | 0.28 | 2.48 |
| 23 | Michigan profile | $51.13 | $106,350 | $72,860 | $178,170 | 320 | 0.07 | 0.63 |
| 24 | Minnesota profile | $50.54 | $105,120 | $58,380 | $197,870 | 500 | 0.17 | 1.48 |
| 25 | Florida profile | $49.24 | $102,430 | $65,850 | $174,900 | 500 | 0.05 | 0.44 |
| 26 | Connecticut profile | $48.75 | $101,400 | $74,740 | $166,060 | 210 | 0.13 | 1.09 |
| 27 | Iowa profile | $46.30 | $96,310 | $59,980 | $144,750 | 70 | 0.05 | 0.40 |
| 28 | Arkansas profile | $44.02 | $91,560 | $55,130 | $136,990 | 50 | 0.04 | 0.31 |
| 29 | Maine profile | $43.98 | $91,480 | $69,140 | $132,950 | 70 | 0.10 | 0.90 |
| 30 | Nevada profile | $43.92 | $91,340 | $70,960 | $128,420 | 70 | 0.05 | 0.42 |
| 31 | Oklahoma profile | $43.26 | $89,980 | $67,490 | $171,650 | 80 | 0.05 | 0.40 |
| 32 | Montana profile | $42.95 | $89,340 | $69,850 | $116,210 | 90 | 0.18 | 1.58 |
| 33 | New Hampshire profile | $41.41 | $86,130 | $60,080 | $157,110 | 50 | 0.08 | 0.69 |
| 34 | Wisconsin profile | $40.39 | $84,000 | $53,340 | $132,270 | 280 | 0.10 | 0.83 |
| 35 | Hawaii profile | $39.93 | $83,050 | $66,370 | $120,270 | 50 | 0.08 | 0.71 |
| 36 | Indiana profile | $38.82 | $80,750 | $47,350 | $163,380 | 80 | 0.02 | 0.21 |
| 37 | Arizona profile | $38.28 | $79,610 | $75,000 | $138,990 | 340 | 0.10 | 0.90 |
| 38 | Nebraska profile | $36.48 | $75,880 | $45,000 | $135,300 | 90 | 0.09 | 0.74 |
| 39 | Louisiana profile | $35.12 | $73,050 | $60,680 | $136,970 | 140 | 0.07 | 0.64 |
| 40 | Kentucky profile | $34.33 | $71,400 | $59,810 | $124,380 | 100 | 0.05 | 0.42 |
| – | New Mexico profile | * | * | * | * | 120 | 0.14 | 1.20 |
| – | Utah profile | * | * | * | * | 50 | 0.03 | 0.26 |
Part of Life, Physical, and Social Science Occupations. Compare any area in the wage explorer.
Source and notes
Data: BLS OEWS May 2025, released 2026-05-15. Cross-industry estimates, all ownerships. BLS page: OEWS 19-3011 Economists.
*- Wage estimate not available.
- Annual wages assume 2,080 hours a year at the hourly rate; occupations BLS publishes on one basis only show an en dash (–) on the other.
- Employment is rounded to the nearest 10 by BLS. Where BLS withholds a cell, nothing is estimated in its place.
- Top industries: nat4d_M2025_dl.xlsx in oesm25in4.zip (BLS OEWS May 2025, national, 4-digit NAICS, cross-ownership). Employment is the industry's rounded total for this occupation; industries whose employment BLS withheld (**) are not ranked.
- Published medians: national_M2021_dl.xlsx to national_M2024_dl.xlsx in oesm21nat.zip to oesm24nat.zip (BLS OEWS May 2021 to May 2024, national, cross-industry, all ownerships) and the May 2025 spine. Each release is shown as published; nothing is computed between them.
Sources
- BLS Standard Occupational Classification 2018, definition of 19-3011, U.S. Bureau of Labor Statistics (public domain).
- O*NET 30.1 Database, 19-3011.00, National Center for O*NET Development, USDOL/ETA (CC BY 4.0).
- OEWS May 2025 national industry-specific estimates, 4-digit NAICS (oesm25in4.zip), US Bureau of Labor Statistics (public domain).
- OEWS May 2021 national estimates (oesm21nat.zip), US Bureau of Labor Statistics (public domain).
- OEWS May 2022 national estimates (oesm22nat.zip), US Bureau of Labor Statistics (public domain).
- OEWS May 2023 national estimates (oesm23nat.zip), US Bureau of Labor Statistics (public domain).
- OEWS May 2024 national estimates (oesm24nat.zip), US Bureau of Labor Statistics (public domain).
- OEWS May 2025 national estimates (oesm25nat.zip), the site's data spine, US Bureau of Labor Statistics (public domain).
Includes information from O*NET 30.1 Database by the U.S. Department of Labor, Employment and Training Administration, used under the CC BY 4.0 license.
Description written 2026-10-17 in our own words from the sources above.