Economists
SOC Code: 19-3011 Job Zone 5: Extensive Preparation Needed
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.
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Prevailing Wage Levels (National)
DOL/OFLC prevailing wage thresholds for Economists. Hourly rates x 2,080 = annual.
FY2027 Weighted Lottery Impact
| Level | Lottery Entries | Est. Selection Rate |
|---|---|---|
| Level I (Entry) | 1 entry | ~16% |
| Level II (Qualified) | 2 entries | ~31% |
| Level III (Experienced) | 3 entries | ~45% |
| Level IV (Expert) | 4 entries | ~61% |
Prevailing Wages by Metro Area
| Metro Area | Level I | Level II | Level III | Level IV |
|---|---|---|---|---|
| Logan, UT-ID | $44,803 | $132,267 | $219,731 | $307,195 |
| Ann Arbor, MI | $76,502 | $129,584 | $182,645 | $235,726 |
| New York-Newark-Jersey City, NY-NJ | $92,082 | $136,989 | $181,875 | $226,782 |
| Kiryas Joel-Poughkeepsie-Newburgh, NY | $91,645 | $136,386 | $181,126 | $225,867 |
| Southern Michigan nonmetropolitan area | $69,347 | $117,229 | $165,110 | $212,992 |
| Elmira, NY | $85,114 | $127,109 | $169,104 | $211,099 |
| Ithaca, NY | $85,114 | $127,109 | $169,104 | $211,099 |
| Binghamton, NY | $85,114 | $127,109 | $169,104 | $211,099 |
| Kingston, NY | $85,114 | $127,109 | $169,104 | $211,099 |
| Rochester, NY | $85,114 | $127,109 | $169,104 | $211,099 |
H-1B Filing Data
Top H-1B Employers
| Employer | Filings | Avg Wage |
|---|---|---|
| Amazon.com Services LLC | 210 | $155,092 |
| Analysis Group, Inc. | 175 | $140,500 |
| Cornerstone Research, Inc. | 125 | $174,191 |
| Federal Express Corporation | 97 | $104,238 |
| The Brattle Group | 91 | $143,131 |
| National Economic Research Associates, Inc. | 81 | $134,753 |
| FedEx Corporate Services, Inc. | 68 | $90,664 |
| Capital One Services, LLC | 65 | $108,783 |
| CRA International, Inc. | 63 | $139,706 |
| COMPASS LEXECON LLC | 42 | $209,524 |
Filing Trend
| Year | Filings | Avg Wage |
|---|---|---|
| 2020 | 118 | $124,573 |
| 2021 | 206 | $111,564 |
| 2022 | 177 | $125,934 |
| 2023 | 435 | $139,737 |
| 2024 | 669 | $142,064 |
| 2025 | 890 | $141,056 |
| 2026 | 81 | $150,788 |
Key Skills
| Skill | Importance | Level |
|---|---|---|
| Reading Comprehension | 4.1 | |
| Mathematics | 4.1 | |
| Critical Thinking | 4.1 | |
| Speaking | 4.0 | |
| Judgment and Decision Making | 4.0 | |
| Active Listening | 4.0 | |
| Writing | 4.0 | |
| Complex Problem Solving | 3.8 | |
| Active Learning | 3.8 | |
| Instructing | 3.2 |
Knowledge Areas
| Knowledge | Importance |
|---|---|
| Mathematics | 4.5 |
| Economics and Accounting | 4.5 |
| English Language | 4.0 |
| Computers and Electronics | 3.8 |
| Education and Training | 3.1 |
| Communications and Media | 2.8 |
| Law and Government | 2.7 |
| Administration and Management | 2.6 |
Education Requirements
| Education Level | % of Workers |
|---|---|
| Doctoral degree | 50.0% |
| Post-first professional | 25.0% |
| Bachelor's degree | 20.8% |
| Other | 4.2% |
Typical Tasks
- Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
- Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
- Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
- Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
- Develop economic guidelines and standards, and prepare points of view used in forecasting trends and formulating economic policy.
- Testify at regulatory or legislative hearings concerning the estimated effects of changes in legislation or public policy, and present recommendations based on cost-benefit analyses.
- Supervise research projects and students' study projects.
- Teach theories, principles, and methods of economics.
Technology Skills
Green = Hot Technology in demand
C++ IBM SPSS Statistics Microsoft Access Microsoft Excel Microsoft Office software Microsoft Outlook Microsoft Power BI Microsoft PowerPoint Microsoft SQL Server Microsoft Visual Basic Microsoft Visual Basic for Applications VBA Microsoft Word Mozilla Firefox MySQL Oracle Java
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