Job Growth in the Cannabis Industry Continues to Push Marijuana Stocks Forward
There is no doubt that the cannabis industry has helped to give hundreds of thousands of people jobs around the world. But, a new study has come out showing just how beneficial pot stocks and the cannabis industry are to the economy. A new report shows that there are almost 250,000 full-time jobs in the cannabis industry. These jobs span major pot stocks, mom and pop dispensaries, and more. In a world that has been beaten down economically by COVID, signs of job growth are extremely exciting. The hopes are that the economic impact of the cannabis industry can lead to more and more legislation put in place around the nation.
The report shows that in the cannabis industry, job growth is occurring at a 15% increase every year. In the past year alone, the cannabis industry has created more than 30,000 full-time jobs. For this reason, marijuana stocks have helped to make cannabis the fastest growing industry in the U.S. But, it’s worth exploring more to see just how this job creation works in the country. With so many marijuana stocks counting on full-time employment, it doesn’t look like this is slowing down anytime soon.
Where is Job Growth Occurring In The Cannabis Industry
Although we like to think that job growth is only occurring in recreational states, it seems to be across the board. Major marijuana stocks in the U.S. like Green Thumb Industries Inc. (OTC:GTBIF) have continued to grow, adding more jobs as they do. Cannabis stocks like this have helped to push states like Oklahoma and Florida to make more marijuana based jobs in America. Florida in particular has seen some incredible growth in the cannabis industry in the past few months. Even though the state is only medicinal at this point, there are more than 300,000 registered users of marijuana.
In 2019, the Floridian cannabis industry grew by as much as 90% in sales. This staggering growth means that there needs to be employees fueling the industry. But, states like Florida are just the starting point. More established cannabis industries like California, have seen even greater growth during that time. For that reason, many believe that marijuana stocks will continue to grow, adding more jobs every year.
Which States In The Cannabis Industry Are Employing the Most People?
Well, the obvious answer to this is California. As the largest cannabis industry in the world, the state employs more people in marijuana-based jobs than any other. Currently, the study states that there is one job per every 165 people going to cannabis in the state. That is an incredible number and one that only stands to grow in the near future.
Other established cannabis industries like Colorado and Washington, also have high numbers of cannabis-based jobs. It makes sense that the largest cannabis industries would have the largest number of jobs in that market. But, in order for marijuana stocks to grow, and the industry to subsequently grow, new legislation needs to go into place. For now, it looks like this is occurring slowly but surely. With that in mind, job creation remains one of the most important parts of the future of the cannabis industry.