According to the Bureau of Labor Statistics, manufacturing jobs have been in a steady decline, and are expected to lose some 814,000 jobs by 2024.
Projections for the cannabis industry do not only outpace manufacturing however, but are also expected to surpass job creation in the utility industry, the service sector, agriculture, and the federal government.
“These numbers confirm that cannabis is a major economic driver and job creation engine for the US economy,” said Giadha Aguirre De Carcer, founder and CEO of New Frontier Data. “While we see a potential drop in total number of US jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the cannabis industry continues to be a positive contributing factor to growth at a time of potential decline. We expect the cannabis industry’s growth to be slowed down to some degree in the next 3 to 5 years, however with a projected total market sales to exceed $24 billion by 2025, and the possibility of almost 300,000 jobs by 2020, it remains a positive economic force in the US.”
“I’m dubious about marijuana. I’m not sure we’re going to be a better, healthier nation if we have marijuana sold at every corner grocery store,” Attorney General Jeff Sessions said in a meeting with state attorney generals on Tuesday.
During Sessions’ confirmation hearings, however, he had stated that federal enforcement of marijuana laws would not be a priority of the Trump administration.
“This administration should respect science and, at the very least, needs to uphold the president’s repeated campaign pledges to respect state cannabis laws,” Tom Angell, who heads the pro-legalization group Marijuana Majority, told the Hill.