Alabama Department of Labor

Labor Market Information Division
SOC: 19-3011 Economists
Conduct research, prepare reports, or formulate plans to aid in solution of economic problems arising from production and distribution of goods and services. May collect and process economic and statistical data using econometric and sampling techniques. Exclude "Market Research Analysts" (19-3021).
Education: Most of these occupations require graduate school. For example, they may require a master's degree, and some require a Ph.D., M.D., or J.D. (law degree).
OJT: Employees may need some on-the-job training, but most of these occupations assume that the person will already have the required skills, knowledge, work-related experience, and/or training.
Tasks: Supervise research projects and students' study projects. Teach theories, principles, and methods of economics. Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness. 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. 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. Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers. Develop economic guidelines and standards and prepare points of view used in forecasting trends and formulating economic policy. Conduct research on economic issues and disseminate research findings through technical reports or scientific articles in journals. Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources. Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
License: License not required.
Outlook: No Change
Alabama Employment Outlook
Alabama Wage Data
Hourly Wage   Annual Wage
Entry $28.77   Entry $59,849.00
Mean $48.18   Mean $100,204.00
Experience $57.88 Experience $120,392.00

The data is based on the May 2017 Occupation Employment Survey employment and wage estimate file. The wages have been aged using the most current ECI factors reflecting wages as of June 2018.

Alabama Projections
Estimated Employment 2016Projected Employment 2026Annual Average OpeningsAnnual Growth Rate
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Financial Analysts
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Market Research Analysts and Marketing Specialists
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University of Alabama in Huntsville
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Occupational Videos
19-3011.00 Economists