The Cannabis Industry is (Quietly) Becoming a Massive Job Creator
May 20th, 2019
Cannabis may not be federally legal in the United States, but Leafly’s 2019 Cannabis Jobs Count suggests there are more than 211,000 full-time workers in the industry and nearly 300,000 workers when including indirect jobs, such as lawyers, accountants and other professionals helping cannabis businesses.
Let’s take a closer look at these dynamics to see what states experienced the most growth last year and where the fastest growing will take place in 2019.
Florida Tops the List in 2018
Leafly found that the U.S. added 64,000 full-time cannabis jobs last year, which represents a 44% annual increase. Florida had the most jobs added last year with just over 9,000 positions, representing a 703% year-over-year increase. Nevada and Washington came in second place with about 7,000 jobs each.
The nearly 300,000 cannabis workers throughout the country compare to just 52,000 coal mining jobs — a campaign focus for President Trump — 69,000 brewery workers, and 112,000 textile manufacturing employees. These figures illustrate just how massive the cannabis industry has become in just a few years.
California Tops the List in 2019
California is expected to add more than 10,000 new cannabis jobs in 2019, which puts it at the top of the list as more consumers move from illicit to legal markets. This will bring the state’s total market to about 47,822 jobs in 2019 with expectations to reach 58,083 jobs by 2020.
Massachusetts came in second place for the anticipated increase in jobs this year at 9,564. Unlike California’s modest 21% increase, these gains amount to a 317% increase for Massuchusetts year-over-year. Florida came in third place with 5,136 new jobs representing a 50% increase over 2018.
Catalysts and Challenges Ahead
The cannabis industry continues to experience many challenges even in states where it has been legalized. For example, entrepreneurs aren’t able to take advantage of federal tax breaks under the rules of IRS Section 280E, which could constrain their hiring from levels they’d like to see.
At the same time, many employees may be hesitant to work in the industry given the uncertain federal status. The requirement for most businesses to operate in cash means that many employees also face a lot of security risks that they wouldn’t otherwise face in other industries.
Despite these constraints, the cannabis industry has become one of the countries greatest success stories, according to Leafly, which deserves to be celebrated.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Media Group (CannabisFN), owned and operated by CFN Enterprises Inc. (OTCQB: CNFN), is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.