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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
RetailMarijuana

Why Budtending Could Be the Hottest Job of the Next Five Years

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
May 9, 2018, 10:51 AM ET
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Looking for the next big growth field? Consider getting into the marijuana business.

Retail sales of medical and recreational marijuana in the United States are expected to come in between $8 billion and $10 billion this year (a nearly 50% increase from 2017) and could reach $22 billion by 2022, according to Chris Walsh, industry analyst and editorial vice president of MJBizDaily. And that growth means there are a ton of job opportunities.

“The cannabis sector currently employs an estimated 125,000 to 160,000 full-time workers,” he said at The Marijuana Business Conference & Expo. “To put this in perspective, there are potentially more full-time marijuana industry workers than there are librarians or kindergarten teachers throughout the country – and over 6 times the number of coal miners in the U.S.”

The industry is projected to add as many as 340,000 full-time jobs by 2022, an estimated annual growth rate of 21%.

To put the sales numbers into more relatable terms, notes Walsh, 2017 U.S. sales of medical and recreational cannabis were nearly nine time higher than those Oreo cookies. And Americans spent nearly as much on weed as they did, collectively, on Netflix subscriptions.

This year, with California in the mix, industry sales could top McDonald’s annual revenue.

The numbers are likely to continue rising. The federal government doesn’t seem likely to reverse its stance on marijuana in the near future (though prominent former members of Congress have reversed their opposition). Still, more states are taking matters into their own hands and legalizing some form of the drug. This November, for instance, Michigan voters will decide whether to legalize recreational use. And Missouri seems poised to put the issue of medical marijuana on the ballot this year as well. New Jersey and New York are also floating the idea.

That’s going to open up a lot of budtender jobs in the years to come.

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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