Economists and economic researchers and analysts

NOC

41401

- 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.

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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

This group performs 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

55.8%

Female

44.2%

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

0.0%

15-24

34.1%

25-34

24.4%

35-44

29.3%

45-54

12.2%

55-64

0.0%

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

0.0%

High School, Diploma or Equivalent

0.0%

Apprenticeship or Trades Certificate or Diploma

14.3%

College or University Below Bachelor Level

85.7%

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

48.8%

Public administration

14.0%

Finance and insurance

9.3%

Manufacturing

27.9%

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

N/A

Northeast

20.90%

Southeast

27.90%

Southwest

44.20%

Central

N/A

Northwest

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 Average Salary by Economic Regions

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

Data legend

N/A

Northeast

$68,000

Southeast

$104,000

Southwest

$64,000

Central

N/A

Northwest

Economic Regions

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.

Salary

The following shows the average salary of everyone who worked full-time and year-round in this occupation across each of the Atlantic Provinces and nationally.

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).

Occupational Profiles