US Cannabis Industry Booming

Although cannabis is still considered illegal in the US under federal law, medicinal cannabis has now been legalised in 29 states, with retail cannabis shops opening in California for the first time in 2018.

As regulations are relaxed, the industry is growing significantly and will drive job growth in the coming years, according to a study by job search website ZipRecruiter.

Released in January 2018, the study highlights growth opportunities in the legal cannabis industry. Key findings include: 

• Cannabis Careers: The cannabis industry saw 445% growth in job posts in 2017 – outpacing the tech sector (254% growth) and healthcare (70%). There are now more people employed in the legal cannabis industry (235,000) than there are dental hygienists (204,000).

Federal legalisation would further boost the job market – immediately creating an estimated 782,000 roles. That figure could increase to 1.1 million by 2025.

• Rapid Expansion: The legal marijuana industry in the US is growing exceptionally fast. US consumers spent an estimated $9.7bn on legal cannabis in 2017 (Business Insider, 2017). Sales are expected to hit $21bn by 2021, up from $11bn in 2018 (BDS Analytics, 2018).

For more on how marijuana culture is changing, see Women Embrace Weed, New Food Covetables and Retail's New Prestige Players.