Welcome to 2017, where marijuana is legal and boosting our economy.
New Frontier Data, cannabis industry analysts, recently reported that according to their calculations, the marijuana industry is expected to create more than a quarter of a million jobs by 2020.
While the overall job market growth has gone down, positions that include marijuana growing, tending, selling, marketing, regulating and more are on the rise.
Giadha Aguirre De Carcer, Founder and CEO of New Frontier Data said, “while we see a potential drop in total number of U.S. jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the cannabis industry continues to be a positive contributing factor to growth at a time of potential decline.”
In fact, according to the Bureau of Labor Statistics, the cannabis industry is expected to create more jobs than manufacturing and the government. But how is this possible?
Looking to New Frontier Data, it seems that the recreational and medical marijuana market was worth more than $7 billion in 2016 and is expected to keep growing at a steady rate through 2020 reaching more than $11 billion in sales.
With all the predictions of the job market growing in the cannabis industry, take note these are based solely on states that have already passed marijuana legalization initiatives. These numbers do not include the 22 states that can still jump on board over the next few years.
Read More: Forbs.com