Adding cannabis to states’ commercial activity leads to a stronger economy
From America to Europe and other corners of the world, the consumption and commercialization of marijuana have been decriminalized, thus generating a latent business opportunity for those who produce products from this ancestral plant for medical and even recreational purposes. One of the most important aspects of the industrial development of cannabis is the labor market, due to the generation of new and varied jobs. Figures and expectations of a sector that, in the face of legal advances, continues to become a source of great help for the current economic situation.
The key to the development of any industry is profitability and the capacity to generate employment. In the case of cannabis, this industry generates millions of jobs in the country, as confirmed by different researchers in a recent study. San Diego State University and Bentley University brought together some of their researchers to examine survey results from 2002 to 2020 in an attempt to explore the impact of legal cannabis on the economy.
Having been published by the National Bureau of Economic Research, the analysis found that legal recreational marijuana laws had little impact on labor productivity, something that has long been claimed by opponents. Instead, the same data revealed that there is a great opportunity for job opportunities in the nascent industry, especially for those over the age of 30.
“These results are consistent with the opening of a new licit industry for marijuana and (especially for older people) a substitution for harder substances such as opioids,” the researchers wrote. These numbers confirm that cannabis is an important economic and job-creation driver for the US.