As Many As 150,000 Jobs Have Already Been Created In The Industry, According To The 2016 Marijuana Business Factbook, So The Implied Growth Rate Is More Than 17% Compounded Over The Next Four Years.

That makes the marijuana industry one of the fastest growing in the country. And as revenues rise, so does the number of jobs in the industry. According to the 2017 Legal Marijuana Outlook published by New Frontier Data, the cannabis industry is expected to created 283,422 jobs by 2020. As many as 150,000 jobs have already been created in the industry, according to the 2016 Marijuana Business Factbook, so the implied growth rate is more than 17% compounded over the next four years. ALSO READ: Cities Where Crime Is Plummeting The job growth and revenue estimates assume that every state will have a legal medical marijuana and adult use market in place and that there will be low barriers to entry, according to Giadha Aguirre De Carcer, CEO of New Frontier Data. De Carcer said: While we see a potential drop in total number of U.S. 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 U.S. ALSO READ: The Net Worth of American Presidents: Washington to Trump According to New Frontier Data, the legal cannabis market was worth an estimated Green Rush $7.2 billion in 2016, and is projected to grow at a compound annual growth rate (CAGR) of 17%, a decline from 28% CAGR in 2016. The medical market is projected to grow at 13% CAGR through 2025, growing from $4.7 billion in 2016 to an estimated $13.3 billion in 2020.

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