Your mind may immediately go to the rate at which different states are legalizing marijuana when the cannabis industry in the U.S. is mentioned. However, there is so much that many people don’t know about the job market in the U.S. cannabis industry. Here are four facts you most likely didn’t know about employment in the cannabis industry in the U.S.
Hiring Has Increased By 76 Percent
According to a study conducted by Glassdoor, the number of available jobs in the cannabis industry in the U.S. has increased by 76 percent when compared to the number of jobs that were available in 2017. Additionally, the second half of the year saw the biggest jump in the number of cannabis jobs advertised throughout the country.
Cannabis Jobs Have Attractive Salaries
Contrary to what many people may think, jobs in the cannabis industry don’t pay minimum wage. The Glassdoor research revealed that the average base salary for the jobs advertised in the cannabis industry was $58,511 a year. That figure may not be glamorous on its own, but it takes on greater significance when you realize that the median base salary across the U.S. in general is approximately 11 percent lower than the median base salary of the cannabis industry jobs advertised. In fact, slightly more than 30 percent of the cannabis industry jobs advertised paid more than $70,000 as base salary. In short, the cannabis industry may be among the best-paying industries in the country!
Many of the Top Employment Destinations Aren’t Where Recreational Cannabis is Legal
One may be tempted to think that the greatest number of jobs are to be found in locations where recreational cannabis was legalized. This is only partially true because the Glassdoor data shows that cities in California ranked highest among the top destinations for marijuana industry jobs.
However, cities in states where only medical marijuana is legal also pulled their weight as top cannabis employment destinations. For example, New York City was fourth on the list of the top 15 cannabis employment destinations while Chicago was seventh on that list.
Most of the Top Employers Are Traded Publicly
It is possible for casual observers to imagine that only Canadian cannabis companies are publicly traded. However, while the Canadian companies get the lion’s share of publicity, American marijuana companies are also traded on different stock exchanges. For example, Green Thumb Industries is traded on Nasdaq and it was the top employer in the cannabis industry. Others are MedMen Enterprises and Truelive.
While the findings of the study were only based on the jobs advertised on Glassdoor, the general idea is that the cannabis industry is growing fast since employers can only take on new hires once those employers are sure of sustainable growth to justify the cost of additional employees. The Glassdoor research is therefore good news to the marijuana industry, including Youngevity International, Inc. (NASDAQ: YGYI) and VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQX: VVCIF).
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