Cannabis job report released by Leafy states that "this is the best moment in me to land a job in the marijuana industry." The Annual report developed by Leafly senior editor Bruce Barcott and Beau Whitney of Whitney Economics forecasts that when cannabis is legalized nationwide, the marijuana industry could support as many as 1.75 million jobs across the U.S.
33% Job Increase in 1 Year
In January 2022, Leafy Job Report counted 428,059 full-time jobs supported by the U.S. cannabis industry. As of the previous year, the marijuana industry sold approximately $25 billion in products, after adding 32,700 jobs in 2019, 77,300 jobs in 2020, and another 107,059 new jobs in 2021. In comparison, " [...] America’s entire financial sector added 145,000 jobs last year, [and] the construction industry, coast to coast, added 165,000 jobs.” Leafly reported.
Although employment rates have been growing exponentially in the marijuana industry, Whitney Economics calculates that the 2021 total cannabis sales figure—just under $25 billion—represents only about 25% of the total potential US cannabis market. In other words, 75% of the nation’s true cannabis demand is still being met by illicit growers and sellers.
$45 Billion Annual Revenue by 2025
Leafy research shows that the U.S. cannabis industry sold $25 million in products in 2021, increasing job employment in the industry by 33%. The report takes into examination the 27 states that have legalized medical marijuana along with the 11 states with legal adult-use cannabis, emphasizing how capital investments in 2020 have resulted in growth and hirings in the sector. The cannabis market is expected to reach $45 billion annually by 2025, as dispensaries start to operate in newly legalized markets such as New York, New Jersey, Connecticut, and New Mexico.
Therefore, it is estimated that when cannabis will have a legal status nationwide, the legal marijuana industry will support 1.5 million to 1.75 million jobs.
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