Colorado's Marijuana Industry Gets a Small Bump

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Colorado dispensaries could use good news on the revenue front, but historical data suggests they're in for another retraction.

After dropping 21 percent from 2021 to 2022, Colorado dispensary sales are already off to a slower start this year.Colorado's marijuana industry saw a rare bump in March, with dispensary sales jumping almost 11 percent month-over-month, according to the stateBut while the $139.6 million in marijuana products sold in March represented a small increase from February, 2023's dispensary numbers are still significantly lower than those of previous years.

, and wholesale marijuana prices remain at record lows, according to the DOR's average market rate for pounds of flower. The sales decline has led to business closures and job losses across the state. According to marijuana industry recruitment firm , Colorado's pot industry lost nearly 10,500 jobs from February 2022 to February of this year, down to 27,856 workers.

 

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