Economist Career and Immigration options for Australia
Economist Performs economic research and analysis, develops and applies theories about production and distribution of goods and services and people s spending and financial behaviour, and provides advice to governments and organisations on economic policy issues.
Profile Title: Economist Career and Immigration options for Australia
Alternative Title:Not Defined
ANZSCO Code: 224311 | Unit Code: 2243
Skill Level: Level 1 | Work Experience: 1 Years
Assessing Bodies: Vocational Education and Training Assessment Services (VETASSESS)
Skill Occupation List (SOL): MLTSSL
Specialization: Agricultural Economist, Econometrician, Economic Forecaster, Environmental Economist, Health Economist, Labour Market Economist, Mineral Economist, Taxation Economist
Profile Description: Performs economic research and analysis, develops and applies theories about production and distribution of goods and services and people s spending and financial behaviour, and provides advice to governments and organisations on economic policy issues.
Job Duties:
- 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
Skill Level Description: In Australia and New Zealand: Most occupations in this unit group have a level of skill commensurate with a Bachelor Degree or higher qualification (ANZSCO Skill Level 1).
Available Visa Options (As on February 2024):
- 186 - Employer Nomination Scheme visa (subclass 186)
- 407 - Training visa (subclass 407)
- 482 - Temporary Skill Shortage (subclass 482) – Medium Term Stream
- 190 - Skilled Nominated (subclass 190)
- 489 - Skilled Regional (Provisional) visa (subclass 489) - State or Territory nominated
- 489 - Skilled Regional (Provisional) visa (subclass 489) - Family sponsored
- 485 - Temporary Graduate (subclass 485) - Graduate Work
- 189 - Skilled Independent (subclass 189) - Points-Tested
- 187 - Regional Sponsor Migration Scheme (subclass 187)
- 494 - Skilled Employer Sponsored Regional (provisional) (subclass 494) - Employer sponsored stream
- 491 - Skilled Work Regional (provisional) visa (subclass 491) State or Territory nominated
- 491 - Skilled Work Regional (provisional) visa (subclass 491) Family Sponsored
Registration or Licensing: Not Required
Industries: Economists are mainly employed in: Public Administration and Safety; Professional, Scientific and Technical Services; and Education and Training
Education Profile: The most common level of educational attainment for Economists is Bachelor degree (52.2 per cent).
Job Opening: Over the five years to November 2019, the number of job openings for Economists is expected to be low (equal to or less than 5,000). Job openings count both employment growth and turnover (defined as workers leaving their occupation for other employment or leaving the workforce).
Age Group: The main age group is 35-44 years (32.8 per cent) and the median age is 45 years (compared to 40 years for all occupations).
Gender: The female share of Economists is 24.6 per cent and 82.0 per cent of Economists work full time. Average weekly hours for full time workers are 39.2 (compared to 40.2 for all occupations).
Earning: In August 2014 (latest available data) weekly earnings full-time before tax (and not including employer superannuation) were $2,082 (compared to earnings for all occupations of $1,200).
Employment: Employment for this occupation fell slightly in the past five years and rose strongly in the long-term (ten years). Looking forward, employment for Economists to November 2020 is expected to remain relatively steady.
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