Marijuana is quite a divisive topic. For the most part, most opinions are split down the middle, with people being either for or against legal marijuana. There’s a lot you can say in defense of marijuana, such as its diverse range of medical applications to the fact that it doesn’t have the side effects pharmaceuticals are known for. However, marijuana’s ability to create employment is almost unparalleled.
According to Leafly’s annual Cannabis Jobs Report, there were 240,000 full-time equivalent (FTE) jobs supported by the legal cannabis industry as of January 2020, a 15% increase from 2019. This translates to 33,700 new jobs in 2019 alone, with Illinois, Oklahoma, and Massachusetts enjoying the most cannabis industry job growth.
Coupled with a projected growth rate of 250% between 2018 and 2028, this makes legal marijuana the fastest growing industry in America, surpassing even the most in-demand tech jobs. However, the fact that marijuana is still illegal at the federal level, and is subject to a patchwork of state legislation, complicates matters.
“There are now nearly a quarter of a million Americans whose professional lives are categorized as illegal or non-existent by the government of the United States,” the report states. “That is outrageous.”
Massachusetts saw an increase of 10,226 jobs and Oklahoma added more than 7,300 jobs. Illinois’s legal marijuana market opened just this year for sales, and it has seen explosive growth in the short period, with 9,176 new jobs being created. The report ranked the state tenth in marijuana jobs in the country.
According to the Chicago Sun-Times, a variety of other white-collar professions have also sprouted around the legal marijuana industry, including attorneys specializing in cannabis law as well as doctors and other medical professionals who treat medical cannabis patients.
Dr. Rahul Khare, for instance, is a former emergency physician who has been treating medical cannabis patients at his Lincoln Park urgent care center. “I didn’t ever think cannabis would ever be legal in medical school. I never thought I’d be using cannabis as a medication,” he says.
Florida, on the other hand, has a massive market for medical marijuana, with more than 300,000 medical marijuana patients. According to a 2019 study by New Frontier Data, Florida’s adult-use market may make up 12% of the national cannabis market and employ 128,000 by 2025 if recreational marijuana becomes legal.
Experts say that this huge explosion of marijuana jobs gives credence to what industry actors, such as ChineseInvestors.com Inc. (OTCQB: CIIX), have always said about the economic and other benefits of legalizing cannabis at all levels.
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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