2023 Cannabis Jobs Report Shows U.S. Cannabis Industry Outgrowing Sales $26 billion in manufacturing last year, and now supports 417,493 jobs – a 2% decline from last year.
Denver, April 10, 2023 /PRNewswire/ — Vangst, the world’s leading cannabis industry jobs platform, today released its annual 2023 Cannabis Industry Jobs Report. This year’s report found 417,493 full-time equivalent jobs supported by the legal cannabis industry in the US. That’s a surprising result – a 2% decline in employment. This is 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 count of jobs supported by the U.S. regulated cannabis industry. This year Leafly is passing the torch to Vangst, which is proud to publish the 2023 Jobs Report and continue its legacy of solid economic data and timely, accurate information. Employment report maker Bruce Barcott and the economist Beau WhitneyThe founder of Whitney Economics, once again tops the report.
Key findings from the 2023 Vangast Cannabis Jobs Report include:
- Nationwide, annual cannabis sales increased $850 million In 2022. That’s a 3% increase, from $25.25 billion In 2021 $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 account for 77% of total sales.
- One of the new markets within the industry saw extraordinary growth while other legacy markets saw extreme declines. New Jersey Gained 4,220 jobs in 2022, bringing the total number of cannabis jobs in the state to 7,367. At the other end of the spectrum, California Cannabis lost 13% of its employees last year, bringing its total to 83,593.
- Michigan moved forward Colorado Becoming America’s second largest cannabis employer, supporting 35,405 jobs.
- 23% of cannabis jobs are in retail, 31% in agriculture, 17% in manufacturing, and 20% in support and indirect jobs. The rest are in wholesale, distribution and laboratory testing.
- Whitney Economics expects industry-wide revenue growth of about 12% through the end of 2023.
“Vangst is thrilled to partner with Lefley and Whitney Economics on the 2023 Jobs Report,” said the founder and CEO. Carson Hamilton“As federal restrictions prevent federal and state labor departments from collecting data on the legal cannabis industry, the data found in the Vangst 2023 Employment Report is critical. When paired seamlessly with our salary guide, Vangst has truly become a one-stop shop. Employers interested in the cannabis industry and jobs For those who seek.”
To view the Vangst 2023 Jobs Report, please visit https://vangst.com/reports/2023-jobs-report.
About Catch
hold on Cannabis is the industry’s recruiting platform. Vangst helps cannabis companies find the talent they need to grow their business. From on-demand gig workers to trained and certified full-time employees, Vangst has built the industry’s go-to talent marketplace for hiring all the talent. Vangst is proud to work with over 1,500 of the leading businesses in the cannabis industry.
Since raising its seed round in 2018, Vangst has become one of the fastest growing companies in the cannabis industry and has been recognized as one of Fast Company’s most innovative companies. Today, more than 400,000 people are employed full-time in the cannabis industry and this number is expected to triple in the next five years.
Vangst is a Series B company and is backed by Lerer Hippeau, Colle Capital, Level One Fund, Snoop Dogg’s Casa Verde Capital, and others. Vangst is at the headquarters Denver, CO
About Whitney Economics
Whitney Economics Cannabis and Hemp is a global leader in business consulting, data, and economic research. The firm regularly consults with private companies as well as local, state and national government agencies, applying economic principles to create actionable policies and strategies.
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