The U.S. witnessed a 5% increase in full-time marijuana jobs over the last year, with more than 440,000 full-time equivalent positions supported by the legal cannabis industry, according to a new report from Colorado-based marijuana staffing company Vangst and analytics firm Whitney Economics.
The growth, however, was unevenly distributed throughout the nation; emerging markets such as Michigan and Missouri saw substantial expansions, while mature markets like Colorado and Washington experienced job losses.
In Michigan, for example, the marijuana industry saw an 11,000-job boom, representing a 39% growth from a year earlier. Additionally, Missouri‘s first full year of having an adult-use market resulted in the creation of 10,735 jobs. On the other hand, established markets in Colorado and Washington saw job declines of 16% and 15%, respectively.
Shrinking Jobs in Western States: Possible Factors
California, the largest marijuana market in the United States, supports 78,618 jobs as of March 2024, but that number represents a 6% decrease compared to the previous year. Western states experienced job losses across various regions, including Oklahoma, Nevada, Massachusetts, and Arizona, resulting in a combined loss of approximately fifteen thousand jobs.
Vangst’s report attributes this shrinkage to factors such as an oversupply of cannabis, along with reduced marijuana-related tourism. However, the industry report remains optimistic, projecting a turnaround within the next couple of years and expecting the U.S. marijuana market to be worth $87 billion by 2035.
Possible Repercussions on Medical Cannabis Sales
The new report indicates that increasing adult-use sales are leading to declines in medical marijuana sales, possibly due to factors such as convenience, product price, selection, or avoidance of state registration. Meanwhile, the federal government is also tracking cannabis job numbers, raising concerns about whether these fluctuations will significantly impact the U.S. economy and labor market.
Widening Scope for Cannabis Employment Opportunities
In addition to revealing job numbers, the Vangst-Whitney Economics report sheds light on salary ranges for various positions within the cannabis industry. This information provides insight into the potential earning opportunities for workers considering a career in this sector.
As more states across the United States consider legalizing marijuana, the number of employment opportunities in the cannabis sector will likely continue to expand, offering interested individuals many diverse options for building lucrative careers in this fast-growing market.
Consequently, despite the short-term decline in mature markets, the long-term outlook for the U.S. cannabis industry remains positive, with substantial job growth expected over the next few years. This anticipated expansion can contribute to the overall development of the American economy and provide lasting benefits for all stakeholders involved in this burgeoning sector.
The Road Ahead: Balancing Mature and Emerging Markets
While some U.S. regions are experiencing setbacks in their cannabis job markets, the overall outlook for the nation’s marijuana industry continues to be positive. Moreover, fluctuations in the U.S. cannabis job market only emphasize the importance of flexibility and adaptability when operating in an ever-changing environment like the legal marijuana industry.
The key for stakeholders lies in striking a delicate balance between emerging and mature markets—a challenge businesses in the sector must face head-on if they want to achieve sustainable growth and continued success.
As the United States marijuana market navigates these uneven job growth patterns, only time will tell how the industry will adapt and evolve to meet the demands of an increasingly discerning customer base.
Rita Ferreira
Rita is a seasoned writer with over five years of experience, having worked with globally renowned platforms, including Forbes and Miister CBD. Her deep knowledge of hemp-related businesses and passion for delivering accurate and concise information distinguish her in the industry. Rita's contributions empower individuals and companies to navigate the complexities of the cannabis world, and her work remains a valuable resource for those seeking a deeper understanding of its potential.
