Economists and economic researchers and analysts

Economists and economic researchers and analysts

NOC
4162

- Economists and economic policy researchers and analysts

Conduct research, monitor data, analyze information, and prepare reports. They develop models to explain and forecast economic behaviour and patterns.

Quick facts

3 Year Outlook

Fair
Fair

3 Year Job Openings

18
 

Median Hourly Wage

$36.25
$28.21
Low
$63.08
High

Median Salary

$65,889
 

Typically Required

University

Employed

203
 

% Working Full Time

100%
 

% Working Full Year

77%
 
Job details

Full NOC Description

Economists and economic policy researchers and analysts conduct research, monitor data, analyze information and prepare reports and plans to resolve economic and business problems and develop models to analyze, explain and forecast economic behaviour and patterns. They advise on matters such as finance, fiscal and monetary policy, international trade, agricultural and natural resource commodities and labour and industrial markets.

Main Duties

Economists and economic policy researchers and analysts perform some or all of the following duties:

  • Conduct research and develop models to analyze, explain and forecast economic behaviour and patterns, and devise methods for collection and analysis of data
  • Forecast production and consumption of specific products and services based on records of past production and consumption and general economic and industry-specific conditions
  • Prepare forecasts of income and expenditure, interest rates and exchange rates
  • Analyze factors which determine economic growth and advise government agencies on policies to increase economic activities
  • Analyze factors which determine labour force participation, employment, wages, unemployment and other labour market outcomes
  • Study mathematical formulae and statistical techniques and apply them to the testing and quantifying of economic theories and the solution of economic problems
  • Study the nature of money, credit and the operation of banks and other financial institutions to develop monetary policies and forecasts of financial activity
  • Monitor economic data to assess the effectiveness, and advise on the appropriateness, of monetary and fiscal policies
  • Examine problems related to the economic activity of individual companies
  • Examine financial methods, production costs and techniques and marketing policies to recommend possible improvements
  • Examine statistical data on the exchange of goods and services among nations
  • Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources
  • Conduct research on market conditions in local, regional or national area to set sales and pricing levels for goods and services, to assess market potential and future trends and to develop business strategies
  • Monitor regional and local economic trends
  • Study regulatory processes and provide material in support of legal proceedings with government and other parties.

Also Known As

  • agricultural economist
  • economic advisor
  • economic analyst
  • economic policy analyst
  • economist
  • energy economist
  • financial economist
  • industrial economist
  • international trade economist
  • investment economist
  • labour economist
  • natural resources economist
  • tax economist
  • trade economist
Requirements

Employment Requirements

  • A master's degree in economics or in a related discipline such as business administration or statistics is usually required.
  • A doctorate in economics may be required.

Provincial Regulation

Not Provincially Regulated

Employment by Sex

The following graph shows the percentage of men and women working in this occupation in New Brunswick.

Data legend

40.9%
Female
59.1%
Male
Employment by age

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by age group.

Data legend

4.6%
15-24
27.3%
25-34
22.7%
35-44
20.5%
45-54
15.9%
55-64
9.1%
65+
Employment by highest level of education

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by highest level of education achieved.

Data legend

0.0%
No Certificate, Diploma or Degree
4.7%
High School, Diploma or Equivalent
0.0%
Apprenticeship or Trades Certificate or Diploma
23.3%
College or University Below Bachelor Level
72.1%
University - Bachelor Level or Above
Employment by Industry

The following graph shows the industry groups in which the largest shares of persons working in this occupation in New Brunswick are employed. Small percentages for all top three industry groups may suggest employment for this occupation is widely distributed amongst many industry groups.

Data legend

48.9%
Public administration
13.3%
Manufacturing
6.7%
Professional, scientific and technical services
31.1%
All Other Industries
Employment by Economic Regions

The following graph shows the breakdown of all persons employed in this occupation in New Brunswick by which economic region they reside in.

Data legend

4.30%
Northeast
40.40%
Southeast
21.30%
Southwest
29.80%
Central
4.30%
Northwest
Province of New Brunswick Economic Regions

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Annual Median Salary by Economic Regions

The following graph shows the median salary of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Data legend

N/A
Northeast
$69,753
Southeast
$64,583
Southwest
$69,648
Central
N/A
Northwest
Province of New Brunswick Economic Regions

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Hourly Median Wages by Economic Regions

The following represents the median hourly wage of all persons employed in this occupation in each of New Brunswick’s five economic regions.

No Data Available
Salary

This following represents the median salary of all persons employed in this occupation compared to the median salary of workers employed in this occupation that work full-time year-round.

All Workers Employed in this Occupation

$65,889

Workers Employed Full-time, Full-year

$69,867

This following represents the median salary of persons employed in this occupation across each of the Atlantic Provinces and nationally.

New Brunswick

$65,889

Newfoundland

$88,132

Prince Edward Island

$69,896

Nova Scotia

$66,438

Canada

$79,348
Employment Outlook

The following represents the number of job openings that are expected to occur in this occupation over the next three and ten years respectively, broken down by openings expected to result from growth (“new jobs”) and openings expected to result from attrition (death and retirements).

Three Year Outlook

Total Openings: 3 Year

18
 

New Jobs: 3 Year

0
 

Retirements/Deaths: 3 Year

19
 

Ten Year Outlook

Total Openings: 10 Year

59
 

New Jobs: 10 Year

-1
 

Retirements/Deaths: 10 Year

63