Below is a chart and brief excerpt from today’s Early Look written by Consumables analyst Howard Penney.
The pandemic has taught us two important factors about the Cannabis industry; it was deemed essential, and nearly every state is looking to the industry for additional tax revenues and jobs. The social justice needed in the country extends well beyond the industry’s borders, but Cannabis reform is also a critical factor in the War on Drugs, including Interstate commerce.
The number of U.S. cannabis industry jobs could reach be over 300,000 people in the U.S. in 2021, looking at 500,000 total employees by 2023. By comparison, roughly 271,000 people currently hold beverage manufacturing jobs, according to the BLS.
The industry size is getting to the point that BLS will likely begin tracking Cannabis jobs in 2021. Sales of adult-use and medical marijuana in the U.S. are expected to surpass $18 billion in 2021 sales.