Florida provides a unique environment for careers in economics. It is a state where an understanding of conventional economic science is applied to the allocation of defense dollars, and where the principals of managerial economics reign in the strategic positioning of the firms that develop and build the advanced technology, equipment and components used by the military, NASA, and other federal agencies with aviation and aerospace concerns.
Sixteen Fortune 500 companies call Florida home. These companies range from major retailers of consumer products, to manufacturers of high-tech aeronautic components.
Aerospace companies are abundant here. Correct Craft, Lockwood Aircraft, Liberty Airspace and Heico are among the state’s biggest employers of economic analysts who apply the science of economics to create projections on the cost of fuel, transportation and materials in the manufacture and delivery of aerospace and aeronautic components.
The U.S. Department of Labor reports that Florida trends a little lower than the national average when it comes to economist salaries. Growth in the industry, however, is projected to remain relatively steady through 2018.
Economics Salaries in Florida
The Bureau of Labor Statistics published a report in May 2011 showing that public sector economists in the state were primarily found working in the Orlando-Kissimmee-Sanford area, and earned an average of $64,360. Mid-career economists in the state represented the 75th percentile in the Bureau’s report, and averaged $76,390, while late-career graduate-educated economists made up the 90th percentile and averaged $95,460 in 2011.