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Edmonton, May 28-30, 2023

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Legal cannabis leads to more jobs and economic improvements — here’s how

Media Partners, The GrowthOp

This post is presented by our media partner The Growth Op
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New research has found a connection between legal cannabis and more job opportunities.

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Conducted by researchers from San Diego State and Bentley universities, the study examined survey results from 2002-2020 in an attempt to explore the impact of legal marijuana on the economy.

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Other demographics that appeared to be positively impacted included young racial minorities and people working within the agriculture sector.

“These results are consistent with the opening of a new licit industry for marijuana and (especially for older individuals) a substitution away from harder substances such as opioids,” investigators wrote.

While the research is related to productivity and weed, it differed from similar studies by focusing wholly on economic trends post-legalization of marijuana and the fact that there’s a new industry and, thus, a new source of jobs.

Researchers theorized that not only did legal cannabis result in more work opportunities, it also kept users away from more dangerous substances.

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When it comes to the black market and its associated harms, the establishment of a legal market advanced eliminating criminal activity and serving as a source of oppression for marginalized people, among them, young men of colour, who have been historically targeted by law enforcement.

“Longer-run labour market effects may differ as we learn about the effects of RMLs (recreational marijuana legalization) on cognitive development and human capital acquisition of those under age 21, which could take time to unfold and be reflected in market-level effects on productivity, wages and/or employment,” study authors conclude. “Moreover, the labour market effects of reductions in criminal records could also take time to unfold.”

While more research is necessary to develop a clear picture of marijuana’s effect on the economy, study findings appear to be good news for cannabis proponents and for anyone who’s interested in getting a job in a new and developing field.

The FreshToast.com, a U.S. lifestyle site that contributes lifestyle content and, with their partnership with 600,000 physicians via Skipta, medical marijuana information to The GrowthOp.

We’d love to hear from you. Get in touch with feedback and story tips at thegrowthop@postmedia.com

This post was originally published by our media partner here.