The U.S. legal cannabis industry will create 108,000 new jobs in 2023
A new study by CannabizTeam estimates that some 108,000 new cannabis-related jobs will be created in 2023, writes Born2Invest.
The report highlights that job growth is evident in all three major areas of the cannabis industry, including cultivation, product testing and retail.
It also reports that:
- Cannabis cultivation is one of the highest-paying occupations, with a vice president of cultivation earning an average of $256,300 a year.
- CFOs are in high demand.
- Branding and marketing are some of the most important areas in the cannabis industry.
- The average salary of legal cannabis store managers increased by 6% across all cannabis companies.
- Entry level jobs are also available.
15% of European consumers have tried CBD, but industry held back by ‘high turnover rate’ of user
BusinessCann takes a look at Prohibition Partners’ European CBD Report: Health & Wellness which contains data showing that the CBD market is set to see a ‘massive influx’ of previous and new consumers to the market over the coming year.
For the report, Prohibition Partners surveyed over 5,000 people across Europe and every metric investigated indicates that the number of consumers and the amount of consumption in Europe is still gradually increasing.
Despite this, BusinessCann highlights that the report also details how the majority of revenue being generated within the industry is ‘not supporting large public companies but rather smaller private enterprises’.
“Overinvestment across multiple segments of a supply chain has seen the loss of billions of euros from large Canadian companies. While the scale is much smaller for European CBD companies, the lesson remains the same; if profitability is not emphasised early on, it is likely that the company will not reach profitability as the market matures.”
Zero medical cannabis markets are fully meeting patients’ needs
The medical cannabis advocacy group Americans for Safe Access has released its annual “State of the States” report, which grades the states on their medical cannabis access options, and zero U.S. states or territories received an “A” from the organization, reports Ganjapreneur.
The organization issued 13 failing grades to state medical cannabis programs – including Georgia, Idaho, Indiana, Kansas, Kentucky, Mississippi, Nebraska, North Carolina, South Carolina, Tennessee, Texas, Wisconsin, and Wyoming – with no state receiving an “A” grade.
The report states: “Even well-organized programs can fail to deliver safe or legal access in states with laws that allow local governments to ban medical cannabis businesses from operating, leaving thousands of patients without the access state laws were intended to create.”