Dispensaries Drive New Mexico’s Cannabis Industry Employment, Reveals Workforce Report

LOS ANGELES– According to a recent report released by the New Mexico Department of Workforce Solutions, the cannabis industry in the state employed more than 4,600 workers by the end of last year, with a significant majority of them finding employment in dispensaries. The report sheds light on the sector’s employment distribution, wage trends, and its overall contribution to the state’s economy.

The study reveals that approximately 88% of cannabis industry workers in New Mexico were employed by dispensaries, highlighting their pivotal role in the sector’s workforce. Agricultural businesses accounted for 3.7% of the workforce, while manufacturing, wholesale trade, and other sectors employed 3%, 2.6%, and 2.4% of the workers, respectively.

In terms of wages, the report indicates that cannabis industry workers earned an average weekly wage of $560 during the fourth quarter of 2022. However, this figure was lower than the average wages in most other industries in the state, except for the accommodation and food service sector, which reported an average weekly wage of $474. Notably, the report reveals fluctuations in cannabis industry wages since the first quarter of 2021, when the average weekly wage stood at $655. The sector reached its peak during the fourth quarter of 2021 with a weekly wage of $715 but experienced a decline in the following quarter to $588. It then witnessed a moderate recovery, reaching $622 in the second quarter of 2022 and $661 in the third quarter.

It is worth noting that the average weekly wage of the cannabis industry in the fourth quarter of 2022 was the lowest observed since the first quarter of 2021, indicating potential challenges faced by the sector in maintaining consistent wage levels.

The cannabis industry’s significant workforce and its contributions to New Mexico’s economy make it a crucial sector to monitor. To stay updated on the latest developments in the cannabis business landscape, subscribe to our daily cannabis business news updates.