ANZSCO 2243

Economists

Overview

EMPLOYED

4,000

PART-TIME SHARE

8%

FEMALE SHARE

21%

MEDIAN WEEKLY EARNINGS

$1,954

MEDIAN AGE

40

ANNUAL EMPLOYMENT GROWTH

-500

About this data

Summary

Economists perform economic research and analysis, develop and apply theories about production and distribution of goods and services and people's spending and financial behaviour, and provide advice to governments and organisations on economic policy issues.

Tasks

  • Analysing interrelationships between economic variables and studying the effects of government fiscal and monetary policies, expenditure, taxation and other budgetary policies on the economy and the community
  • Researching, analysing and assessing the effects of labour market programs and industry policies and programs on economic growth, welfare, education and training
  • Investigating international and national economic situations, and particular features such as industries, regions and socioeconomic groups
  • Studying workplace issues such as enterprise bargaining and wage fixation, and the effect of workplace policies on productivity and economic growth
  • Analysing trends and advising on economic issues such as taxation levels, prices, employment and unemployment, imports and exports, and interest and exchange rates
  • Forecasting changes in the economic environment for short-term budgeting, long-term planning and investment evaluation
  • Formulating recommendations, policies and plans for the economy, corporate strategies and investment, and undertaking feasibility studies for projects
  • Preparing reports on research findings

ANZSCO Classification

Details

On this page

    Earnings and Hours

    Weekly Earnings (Before Tax)
    Source: Share of workers who work full-time hours: ABS, Labour Force Survey, 2023, four-quarter average, customised report.
    Average full-time hours worked per week: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Median full-time earnings per week and Median hourly earnings: ABS, Survey of Employee Earnings and Hours, May 2023, customised report.
    Note: median earnings data have not been produced for some occupations where there is a high standard error, and are published with "N/A" values.
    Earnings and Hours Economists All Occupations
    Share of workers who work full-time hours 92% 70%
    Average full-time hours worked per week 43 hours 44 hours
    Median full-time earnings per week $1,954 $1,697
    Median hourly earnings N/A $43

    Industries

    Economists work in industries like:

    Source: Ranked using ABS, Labour Force Survey, 2023, four-quarter average data, custom report.
    Note: industries that comprise less than 5% of an occupation have been suppressed.

    States and territories

    New South Wales

    35.5%

    Victoria

    17.6%

    Queensland

    16.5%

    South Australia

    4.4%

    Tasmania

    1.8%

    Northern Territory

    1.8%

    Australian Capital Territory

    15.6%

    Source: ABS Labour Force Survey, Detailed, August 2024, Jobs and Skills Australia trend data.

    Age and gender

    Age and Gender Profile
    Source: ABS, Labour Force Survey, 2023, four-quarter average, customised report.
    Age and Gender Economists All Occupations
    Median age 40 years 39 years
    Female share of employment 21% 48%
    Source: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Age Profile (% Share) All Occupations Economists
    15–19 5.2 0.1
    20–24 9.1 9.2
    25–34 22.7 30.9
    35–44 22.3 28.1
    45–54 20.4 17.1
    55–59 8.8 5.7
    60–64 6.5 4.5
    65 and Over 4.9 4.4

    Education

    Visit

    • Course Seeker to search and compare higher education courses.
    • ComparED to compare undergraduate and postgraduate student experiences and outcomes.
    Source: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Highest Level of Educational Attainment (% Share) All Occupations Economists
    Post Graduate/Graduate Diploma or Graduate Certificate 12.2 52.7
    Bachelor degree 23.2 43.1
    Advanced Diploma/Diploma 11.1 0.7
    Certificate III/IV 19.5 0.5
    Year 12 15.9 2.4
    Year 11 4.0 0.1
    Year 10 and below 9.7 0.2
    On this page

      Occupation profiles data

      This file contains data displayed on the Occupation Profile pages.

      Use of data in this file must include the relevant attribution text provided.

      Occupation profiles data - November 2024.xlsx

      occupation_profiles_data_-_november_2024.xlsx946664

      Download

      Australian and New Zealand Standard Classification of Occupations

      Australian and New Zealand Standard Classification of Occupations (ANZSCO) is the skill-based classification system used to categorise occupations in the Australian and New Zealand labour markets. ANZSCO provides a basis for the standardised collection, analysis and dissemination of occupation data. Visit the ABS website to learn how ANZSCO works. Jobs and Skills Australia displays data for occupations that are defined by ANZSCO 2013 Version 1.3.