Vangst Jobs Report Shows a Surprising Drop in Employment for US Cannabis Industry

1.5 min readPublished On: April 10th, 2023By

LOS ANGELES– The legal cannabis industry in the United States generated over $26 billion in sales last year, according to the 2023 Vangst Jobs Report. The report, released by Vangst, a leading cannabis industry jobs platform, found that there are now 417,493 full-time equivalent jobs supported by the legal cannabis industry in the country. This represents a 2% drop in employment, which is the first decline since the modern legal era began in 2012.

The report highlights that from 2017 to 2022, Leafly and Whitney Economics collaborated on producing the Cannabis Jobs Report, which tallied jobs supported by America’s regulated cannabis industry. This year, Vangst has taken over the report, with Jobs Report creator Bruce Barcott and economist Beau Whitney, founder of Whitney Economics, once again leading the effort.

Some of the key findings of the report include the fact that nationwide, annual cannabis sales increased by $850 million in 2022, a 3% rise from the previous year. Additionally, Michigan has now overtaken Colorado as America’s second-largest cannabis employer, supporting 35,405 jobs. The report shows that 23% of cannabis jobs are in retail, 31% in cultivation, 17% in manufacturing, and 20% in ancillary and indirect jobs. The remainder are in wholesaling, distribution, and lab testing.

The report also revealed some contrasting trends in the industry. While New Jersey saw exceptional growth, adding 4,220 jobs in 2022 and bringing the total number of cannabis jobs in the state to 7,367, California lost 13% of its cannabis employees last year, bringing the total to 83,593. The report also expects to see nearly 12% growth in revenue industry-wide by the end of 2023, according to Whitney Economics.

Vangst CEO Karson Humiston said, “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.”

About the Author: News Team

Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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