Marijuana is the fastest-growing labor market in the USA
North America sits at a point of idle industry and floating job growth, and in many cases, this blanket statement could hold true, however in the Marijuana industry, people may be laughing and smoking all the way to the bank. According to a recent report, Cannabis manufacturers and distributors on both the recreational and medical sides, are behind massive amounts of job creation. In 2018 alone we saw 64,389 new jobs created, which brings the North American Cannabis job total to well over 300,000, according to Leafly’s report with Whitney Economics.
The United States economy is still churning away, it created 2.7 million new jobs in 2018. This doesn’t include Cannabis related positions because at the federal level it is still considered a narcotic, therefore those jobs are not currently being tallied. “Amid the roiling debate over American jobs, the legal Cannabis industry remains a substantial and unrecognized engine of grassroots job creation,” the report’s author wrote. “In 2019, America’s Cannabis industry is one of the nation’s greatest economic success stories. That success deserves to be recognized and celebrated.”
The results that this report highlighted are paramount. Cannabis jobs have translated to a 44% gain in the workforce for 2018, on top of the 21% increase from last year. At 211,000 U.S. positions, Cannabis jobs now sit favorably to other mainstream industries. There are 113,000 chefs, 65,000 aerospace engineers, and 50,000 computer operators, according to rough figures.
“U.S. Marijuana legalization is a rare example of disruption creating jobs rather than destroying them,” Nick Colas, co-founder of Datatrek Research, said in a note Thursday that highlighted some of the Cannabis jobs data. “With the U.S. labor market recently showing signs of weakness and fears of an eventual recession in the wings, this is one industry that might soften the blow of an economic downturn.”
We expect Cannabis-related jobs to continue growing as more states legalize the substance. It is by far the fastest growing industry and a beautiful thing to witness in today’s day and age. Along with the bottom-line gains, the industry’s growth also offers an alternative to the push for young adults to get college and university degrees. The explosion of student loan debt has now totaled nearly $1.6 trillion. However, with more opportunities in this growing industry (from cultivation, sales, operations, marketing) the chances of hard workers earning a healthy income increase substantially.
Stay Connected to the Industry and Happy Investing!
The Cannabis Investor is a leading media outlet for Cannabis investment opportunities and breaking industry news.
Join our text message list:
USA: Text potstocks to 313131 to join
CDN: Text potstocks to 393939 to join
Join our email list here: http://eepurl.com/bUSa71
Follow The Cannabis Investor on Social Media