The weed rush is on. A new report says the marijuana industry will create at least a quarter-million jobs in the next three years.
A report from New Frontier Data says:
This is more than the expected jobs from manufacturing, utilities or even government jobs according to the Bureau of Labor Statistics. This dovetails with data that suggests the fastest growing industries are all healthcare related.
The legal cannabis market was worth an estimated $7.2 billion in 2016 and is projected to grow at a compound annual growth rate of 17%. Medical marijuana sales are projected to grow from $4.7 billion in 2016 to $13.3 billion in 2020. Adult recreational sales are estimated to jump from $2.6 billion in 2016 to $11.2 billion by 2020.
Meanwhile, the White House just announced that they hope to implement “greater enforcement” against recreational marijuana laws on a federal level. Despite more than 70 percent of Americans saying they’d wish the federal government stay out of it and leave it up to states to regulate their own weed laws.
The presence of African-Americans in the legal marijuana industry has also become a hot topic and many feel they are being left out and simultaneously penalized for selling it on the street.
In a column for Rolling Stone, Killer Mike wrote, “As marijuana reform begins to de-escalate the drug war, creating new opportunities for employment and entrepreneurship in the process, it is imperative that the people most in need of a second chance actually get one. The price they have already paid for our failed drug policy is steep enough.”
Many of your favorite rappers ranging from Cam’Ron to Master P to Snoop Dogg have already found ways to capitalize on the growing market.
So, if you’re out here looking for a job, consider looking into the marijuana industry, while you still can.
photo: WPTV Screeshot
