– The 2023 Vangst Jobs Report shows America’s cannabis industry sold more than $26 billion in products last year, and now supports 417,493 jobs – a 2 percent drop over last year.
DENVER, USA – Vangst, the world’s leading cannabis industry jobs platform, today released the annual 2023 cannabis industry jobs report. This year’s report found there are now 417,493 full-time equivalent jobs supported by the legal cannabis industry in the US.
That’s a surprising result – a 2 percent drop in employment. It’s the first time legal cannabis jobs have declined year-over-year since the modern legal era began in 2012.
From 2017 to 2022, Leafly and Whitney Economics partnered to produce the Cannabis jobs report, an annual tally of jobs supported by America’s regulated cannabis industry. This year Leafly is passing the torch to Vangst, who is proud to publish the 2023 jobs report and continue its legacy of solid economic data and timely, accurate information. Jobs report creator Bruce Barcott and economist Beau Whitney, founder of Whitney Economics, are once again at the helm of the report.
Key findings from the 2023 Vangst Cannabis jobs report include:
Nationwide, annual cannabis sales increased by $850 million in 2022. That’s a 3 percent rise, from $25.25 billion in 2021 to $26.1 billion in 2022. That figure includes all state-regulated medical and adult-use sales (not hemp, delta-8, CBD, or unregulated sales). Adult-use states accounted for 77 percent of total sales.
One of the newest markets within the industry saw exceptional growth while other legacy markets saw extreme drops. New Jersey gained 4,220 jobs in 2022, bringing the total number of cannabis jobs in the state to 7,367. On the other end of the spectrum, California lost 13 percent of cannabis employees last year bringing their total to 83,593.
Michigan moved ahead of Colorado to become America’s second-largest cannabis employer, supporting 35,405 jobs.
23 percent of cannabis jobs are in retail, 31 percent in cultivation, 17 percent in manufacturing, and 20 percent in ancillary and indirect jobs. The remainder are in wholesaling, distribution, and lab testing.
Whitney Economics expects to see nearly 12 percent growth in revenue, industrywide, by the end of 2023.
“Vangst is thrilled to partner with Leafly and Whitney Economics on the 2023 jobs report,” said founder and chief executive officer, Karson Humiston, “As federal prohibition prevents federal and state labor departments from compiling data on the legal cannabis industry, data such as that found in the Vangst 2023 jobs report is critical. Pairing seamlessly with our salary guide, Vangst has truly become a one-stop shop for employers and job-seekers interested in the cannabis industry.”
To view the Vangst 2023 Jobs Report, please visit.
The post Legal Cannabis Industry annual report shows job drop for first time ever first appeared on Caribbean News Global.
The post Legal Cannabis Industry annual report shows job drop for first time ever appeared first on Caribbean News Global.