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Economists in California

Want to work as an Economists in California? Below are the key facts. 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).

$100,510 Median Annual Wage (California)

$73,611 National Median Annual Wage

1,400 California Employment

Extensive Preparation Needed Typical Preparation

What do Economists Make in California?

For a economists working in California, wages run about $100,510 per year (or roughly $48.32/hour).Pay can range from $71,260 at the 10th percentile to $193,500 at the 90th percentile.

Wage Statistic	Annual	Hourly
10th percentile	$71,260	$34.26
25th percentile	$84,580	$40.66
Median (50th)	$100,510	$48.32
75th percentile	$157,970	$75.95
90th percentile	$193,500	$93.03

Salary ranges for Economists in California

The location quotient — a measure of how concentrated this occupation is in California relative to the national average — is 0.76, suggesting fewer economists per worker than the national average.

National Wage Comparison

Nationally, economists earn a median of $73,611 per year ($35.39/hour), above the California median.

Economists earnings in California vs. the national average

Employment Outlook

There are roughly 34,480 economists across the United States. In California alone, around 1,400 people work in this role. That’s more than the typical state, which employs around 210 economists.

Economists in California vs. the average state

Forecasted number of jobs for Economists

Top California Metros for Economists

These are the California metros with the most economists in California.

Metro Area	Number Employed	Annual Median Salary
San Francisco-Oakland-Fremont, CA	440	$134,410
Sacramento-Roseville-Folsom, CA	380	$92,270
Los Angeles-Long Beach-Anaheim, CA	300	$118,190
Riverside-San Bernardino-Ontario, CA	70	$104,970
San Diego-Chula Vista-Carlsbad, CA	50	$102,220

Top States for Economists Employment

These states have the highest employment of economists work.

State	Number Employed
District of Columbia	3,010
California	1,400
Virginia	970
Maryland	920
New York	870
Massachusetts	770
Pennsylvania	710
South Carolina	660
Texas	620
Illinois	590
Washington	470
Florida	460
Georgia	340
Wisconsin	330
Michigan	280
Oregon	270
North Carolina	250
Colorado	230
Minnesota	210
Missouri	210

Highest-Paying States for Economists

Where economists earn the most: economists.

State	Annual Median Salary
District of Columbia	$162,610
Virginia	$148,010
New York	$142,300
Maryland	$137,610
Georgia	$127,220
Ohio	$117,750
Washington	$116,390
Missouri	$115,520
Kansas	$115,100
Pennsylvania	$113,300

Skills

Key economists skills, rated on an importance scale of 0 to 5:

Critical Thinking 4.1 / 5

Mathematics 4.1 / 5

Reading Comprehension 4.1 / 5

Speaking 4.0 / 5

Active Listening 4.0 / 5

Writing 4.0 / 5

Knowledge Areas

Key knowledge areas for this occupation, rated on an importance scale of 0 to 5:

Mathematics 4.5 / 5

Economics and Accounting 4.5 / 5

English Language 4.0 / 5

Computers and Electronics 3.8 / 5

Education and Training 3.1 / 5

Communications and Media 2.8 / 5

Abilities

Top abilities for economists, rated on an importance scale of 0 to 5:

Inductive Reasoning 4.1 / 5

Mathematical Reasoning 4.1 / 5

Written Comprehension 4.1 / 5

Written Expression 4.0 / 5

Speech Clarity 4.0 / 5

Oral Expression 4.0 / 5

Daily Tasks

Day-to-day, economists typically:

Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
Explain economic impact of policies to the public.
Review documents written by others.
Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
Supervise research projects and students' study projects.
Conduct research on economic issues, and disseminate research findings through technical reports or scientific articles in journals.
Develop economic guidelines and standards, and prepare points of view used in forecasting trends and formulating economic policy.
Teach theories, principles, and methods of economics.
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.

Work Activities

Analyzing Data or Information
Getting Information
Working with Computers
Processing Information
Interpreting the Meaning of Information for Others
Updating and Using Relevant Knowledge
Communicating with Supervisors, Peers, or Subordinates
Communicating with People Outside the Organization
Making Decisions and Solving Problems
Thinking Creatively
Estimating the Quantifiable Characteristics of Products, Events, or Information
Organizing, Planning, and Prioritizing Work

Tools & Technology

Common tools and software used in this occupation include: Hot technologies: C++, IBM SPSS Statistics, Microsoft Access In-demand technologies: Microsoft Excel, Microsoft Office software

What Major Will Prepare You For This Career?

Programs that train for this career include:

Economics
Political Science & Government
Applied Mathematics
Managerial Economics
Agricultural Economics
Philosophy, Politics, and Economics
Mathematical Economics
Economics and Computer Science
Economics and Foreign Language/Literature
Natural Resource Management
Pharmacy/Pharmaceutical Sciences

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Related occupations to economists include:

Also Known As

Agricultural Economist, Business Economist, Consultant Economist, Econometrician, Economic Advisor, Economic Analyst, Economic Consultant, Economic Developer, Economic Development Manager, Economic Development Specialist, Economic Research Analyst, Economic Specialist, Economist, Environmental Economist, Financial Economist.

References

U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics — https://www.bls.gov/oes/
O*NET Online — https://www.onetonline.org/
BLS Employment Projections — https://www.bls.gov/emp/
O*NET-SOC code: 19-3011.00

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