The marijuana industry has started delivering robust economic figures
Reports say there are 14% more legal marijuana professionals than there are dental hygienists in the US, even now, only a few years in to the legal Cannabis ‘experiment’ which is being undertaken. It appears, from the research, that that’s true!
That statistic is just one of a growing number of impressive economic statistics. The legal marijuana industry delivered some whopping job-growth numbers generally, recently. Job growth in the industry in the country is now outpacing many other fastest-growing sectors in the US, including healthcare and tech.
According to ZipRecruiter, job postings in the healthcare industry rose by 70% in 2017 while tech jobs fell by 25%.ECONOMICS: The total number of weed-related job postings in the US increased by a staggering 445% in 2017.
The Cannabis industry comes at a time when America needs jobs
At a time when many traditional industries in the US are facing downsizing and some are, unfortunately, disappearing entirely, the Cannabis offers an opportunity to offset some of the more negative and difficult aspects of America’s evolving economy.
Importantly, the impressive growth we’re seeing in the Cannabis job market is attributed to SMBs kicking-off marijuana retail sales obviously in the states that have legalized the green gold against the federal government.
Now that weed is legal in the most populous American states – California – the report predicts an increase by $5.1 billion in cannabis sales in 2018.
As per a study conducted by BDS Analytics, the cannabis industry in the US could skyrocket to over $21 billion by 2021, adding up to 413, 988 jobs.
Best Places for Marijuana Jobs in the US
Pot-related job postings are popping up across about half of the U.S. states, following the weed legalization. However, you will find the best job opportunities in the pot industry in the following regions – mostly California, Florida and Washington State
- Denver, Colorado
- Los Angeles, California
- San Francisco, California
- Santa Barbara, California
- San Jose, California
- Seattle, Washington
- Portland, Oregon
- Sacramento, California
- Spokane, Washington
- Miami, Florida
- Tallahassee, Florida
- Chicago, Illinois
- Boston, Massachusetts
Arcview Market Research and BDS Analytics firm expects that cannabis job market in California will grow to 99,000 individuals by 2021, which will make it three times bigger than that of Colorado.
Meanwhile, Michigan will outpace Washington in the number of pot-based jobs, and Florida and Massachusetts will leave behind Oregon.
Most demanding jobs
Like other businesses, pot companies also need professional services such as accounting, legal counseling, compliance, operations, real estate advice, to support them once they are established. However, more core roles, edible producers, master growers, and butdenders are on the rise, too. Cannabis dispensaries are seeking trained and experienced staff who can interact with customers and provide product descriptions and recommendations. They exist on the front line of the dispensaries and play an important role in normalizing conversations and purchases around Cannabis.
Budtenders typically earn between$12 and $15 per hour, and also get a chance to develop essential skills and knowledge that can help them start their own cannabis business, at some point, should they so desire.
On the production side of the equation, some of the most popular jobs come from those understanding the biology of the plant. One of the most popular positions cannabis businesses are seeking, for example, are experienced master growers and extractors. These demanding professions provide a salary of up to $100,000 annually.
Other professional services like finance, compliance, and operations have contributed to a staggering 690% increase in the overall cannabis job market between January 2017 and August 2018. The average salary of cannabis professionals grew 16.8% between 2017 and 2018.
Typically, professionals in the marijuana industry have to be young, white and male. Most employers required that they must hold at least some college education.
Not only does marijuana legalization creates a stable and safer market for pot consumers and businesspeople, but it also drives significant job growth in the United States.
In fact, according to New Frontier, the federal government could drive about $131.8 billion tax revenue over the coming eight years by legalizing weed in all 50 states. It suggests that weed legalization at the federal level would create nearly 782,000 jobs immediately. The firm predicts that the total number of weed-related jobs would increase to 1.1 million by 2025.