Economist Employment Marketplace

As global markets become increasingly more complex, organizations continue to look for qualified economists to evaluate the impact of financial risks and synthesize complex data into actionable and easy-to-understand reports. But what is the role of an economist and what major industries are vying for these employees?

Industries of Employment
Studies show that the employment rate for economists is expected to grow at the national average rate of 6%, up to 21,500 jobs, by 2024. Below are some of the best industries for economists looking to advance their careers.

Government Agencies:

Average pay - 110,470 dollars.

21% of economists work in government agencies.

Economists are in demand at agencies like the Department of Defense, Department of Interior, and Minerals Management Service. These economists estimate the effects of various legislation or public policy changes. Government agencies are the largest current employer of economists.

Roles:

Financial Economist; International Economist

Private Corporations:

Average pay - 105,510 dollars.

18% of economists are employed in private corporations.

Roles within the private business sector vary greatly, but economists can provide valuable economic forecasts to organizations of any size to help them understand their brand positioning within the global economy.

Roles:

Chief Financial Officer; Risk Management Economist

Think Tanks and Policy Institutes:

Average pay - 95,710 dollars.

15% of economists are employed by think tanks and policy institutes.

Economists aid in the field of scientific research, helping companies to identify areas of economic opportunity and position them for long-term growth.

Economists in these positions work at organizations like:

National Bureau of Economic Research; Brookings Institution; Resources for the Future

State Governments

Average pay - 67,930 dollars.

15% of economists are employed by state governments.

An economist working in this field analyzes regional data on trade or commerce, commercial growth, unemployment and local labor trends.

Roles:

Regional Economist; Labor Economist

Rewarding career paths await economists with the proper education and experience.

programs.online.american.edu/econ/masters-economics

References

http://www.bls.gov/ooh/life-physical-and-social-science/economists.htm

http://www.topuniversities.com/student-info/careers-advice/what-can-you-do-economics-degree

https://collegegrad.com/careers/economists

https://ideas.repec.org/top/top.ttanks.html

American University

Washington, D C