The legalized hashish business added over 23,000 new jobs in 2023 and now employs over 440,000 full-time staff around the U.S., in step with information compiled through Vangst and Whitney Economics.
Activity expansion higher greater than 5 p.c between 2022 and 2023, whilst retail hashish gross sales grew over ten p.c to $28.8 billion, authors reported. 12 months-over-year expansion used to be particularly robust in Michigan and extra nascent adult-use markets corresponding to Missouri, New Jersey, Connecticut, and Rhode Island.
In contrast, ten states skilled damaging expansion all through the previous 12 months. The document’s authors urged that marketplace saturation and waning calls for for hashish tourism most probably performed a task in the ones markets’ contraction.
“Now greater than ever, The us’s hashish business is a state-by-state, region-by-region activity marketplace,” the learn about’s authors concluded. “Younger markets in not too long ago legalized states proceed to enlarge and create employment alternatives, whilst hard work call for in mature markets contracts along side income and benefit margins.”
Between 2017 and 2022, the state-legal hashish business skilled year-over-year double-digit expansion. Since then, business expansion has plateaued.
The legalized hashish business added over 23,000 new jobs in 2023 and now employs over 440,000 full-time staff around the U.S., in step with information compiled through Vangst and Whitney Economics.
Activity expansion higher greater than 5 p.c between 2022 and 2023, whilst retail hashish gross sales grew over ten p.c to $28.8 billion, authors reported. 12 months-over-year expansion used to be particularly robust in Michigan and extra nascent adult-use markets corresponding to Missouri, New Jersey, Connecticut, and Rhode Island.
In contrast, ten states skilled damaging expansion all through the previous 12 months. The document’s authors urged that marketplace saturation and waning calls for for hashish tourism most probably performed a task in the ones markets’ contraction.
“Now greater than ever, The us’s hashish business is a state-by-state, region-by-region activity marketplace,” the learn about’s authors concluded. “Younger markets in not too long ago legalized states proceed to enlarge and create employment alternatives, whilst hard work call for in mature markets contracts along side income and benefit margins.”
Between 2017 and 2022, the state-legal hashish business skilled year-over-year double-digit expansion. Since then, business expansion has plateaued.
