The cannabis industry is already huge, and it’s only going to keep growing. Jobs in the cannabis industry are expected to surpass manufacturing jobs by 2020. Since Colorado first legalized recreational cannabis a in 2012, the cannabis industry has surpassed all expectations. Cannabis sales in North America brought in 6.7 billion in 2016. In the next eight years that number is expected to grow to 24.5 billion.
The industry is growing, which naturally leads to more jobs. If things continue on the present course, the cannabis industry will easily have the largest job market in the US. According to a new report from New Frontier Data, the cannabis industry is expected to create 283,000 new jobs by 2020. This estimation is from the Marijuana Policy Group and is based on the number of states that voted to legalize cannabis last fall.
The Marijuana Policy Group also the state of Colorado has created over 18,000 jobs since 2014. California, which is the largest state in the US in terms of population, just legalized recreational cannabis The area surrounding Sacramento is expected to create up to 20,000 new jobs.
Not since the tech boom of the late nineties has the US seen a single industry grow like this. This is certainly welcome news in a time where manufacturing jobs are in a major slump. Jobs in that sector are expected to decline by a lot in the next decade.
All of this will, of course, depend on things continuing on their present course. If the Justice Department does decide to crackdown on the recreational market, then things will be a lot more complicated. Earlier this week, vocal cannabis opponent, and head of the Justice Department, Jeff Sessions indicated that he may enforce federal prohibition in recreational states. It will be difficult to keep cannabis illegal if it’s the cannabis industry is the biggest job market in both the US and Canada.
Regardless of how one personally feels about cannabis, if they are a public servant, then it should be their job to do what is best for the public interest. If cannabis is the future, then it’s time to embrace that future.
Source: New Frontier Data
Image Source: Business Insider
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