When Press Secretary Sean Spicer made his frightening statement last week about the possible future of the marijuana industry, weed advocates immediately began firing back. According to the Trump Administration, the newly appointed U.S. Attorney General Jeff Sessions is not all that fond of legalized weed. His office might decide to be more aggressive in the law enforcement practices of federal legislation banning recreational marijuana.
But according to a newly published research study compiled by an international Think Tank for the cannabis industry, U.S. marijuana retailers and businesses are slated to produce over a quarter of a million new jobs by the year 2020. Meanwhile, the U.S. Bureau of Labor Statistics indicate that the manufacturing sector is estimated to essentially reduce its overall job force by a whopping 814,000 jobs by 2024.
If Donald Trump wants to be keep his campaign promise as a pro-jobs President, he and his Attorney General should probably need to get on the same page, politically speaking.
Marijuana jobs are on the rise
The recent study was published just last week on the website New Frontier Data, and according to its lead author Giadha Aguirre De Carcer, the U.S. marijuana industry is predicted to produce almost 300,000 new jobs in the next three to five years.
“These numbers confirm that cannabis is a major economic driver and job creation engine for the U.S. economy,” said Giadha Aguirre De Carcer, Founder and CEO of New Frontier Data. “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. We expect the cannabis industry’s growth to be slowed down to some degree in the next 3 to 5 years, however with a projected total market sales to exceed $24 billion by 2025, and the possibility of almost 300,000 jobs by 2020, it remains a positive economic force in the U.S.”
The new positions of employment can include everything from cashiers of local weed dispensaries, scientists focusing on developing new strains, technical experts in the advancement of farming procedures and technology, and even pot-related startup companies designed to support the industry, like Yelp of Weed, for example.
The Carcer study used information previously ascertained by the Marijuana Business Journal with additional statistics and data compiled by a weed advocacy group and consulting firm called the Marijuana Policy Group located in Colorado. The prediction of 300,000 new jobs is based on the assumption that all 50 states will be passing some sort of legalized weed legislation within that time frame. Currently, 28 states have either legalized medial or recreational marijuana legislation in some form already on the books.