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US Marijuana Industry Hits All-Time High

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Jobs and sales increased in 2023, providing a promising outlook for the burgeoning industry.

The legal cannabis industry is thriving in the U.S., reaching its highest-ever number of jobs and sales, a new report shows.Vangst, a cannabis industry job platform, found that at the beginning of the year, there were 440,445 full-time-equivalent jobs in the legal cannabis industry—a 5.4 percent increase from 2023. Annual sales of legal marijuana, recreational and medical, increased by 10.3 percent to $28.8 billion last year, it added.Legal cannabis use across the U.S.

Vangst attributed the growth to expanding markets, especially in the Midwest and along the East Coast. Michigan in particular saw 'astonishing' growth throughout 2023 with sales of more than $3 billion, up 33 percent over 2022. Some 11,000 new jobs have been created thanks to the in-state boom.In the east, cannabis markets in Connecticut, Maryland, New Jersey, New York and Rhode Island have flourished.

 

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