Marijuana Business Factbook 2019

7 © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. National Trends | Chapter 1 MJBIZDAILY.COM CHART 1.05: Estimated Full-Time Employment In The Cannabis Industry: 2019 Note: Cannabis industry employment figures calculated using number of full-time equivalent workers that support the marijuana industry. Source: 2019 Marijuana Business Factbook © 2019 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved. Estimated Full-Time Employment In The Cannabis Industry: 2019 Medical Dispensaries/Recreational Stores Wholesale Cultivators Cannabis Product Manufacturers & Producers/Processors Testing Labs Ancillary Services, Technology & Products Companies Abc Abc Abc Abc Abc 61,000 - 76,000 42,000 - 52,000 15,500 - 20,000 1,500 - 2,000 55,000 - 65,000 Plant-Touching Total: 118,500 - 148,000 Industry Total: 175,000 - 215,000 In 2019, the marijuana industry is estimated to employ the equivalent of 175,000-215,000 full-time workers across the United States. These figures consist of workers directly employed by cannabis businesses ― such as budtenders and extraction technicians ― as well as the employees of ancillary companies that support the marijuana industry, such as consultants and lawyers. The use of full-time equivalent workers is a method for standardizing employment estimates and equating the hours worked by several part-time employees to the hours worked by full-time employees. Two part-time employees working 20 hours per week, for example, would be the equivalent of one full-time worker. This allows for more accurate comparisons to other industries and is especially useful in the marijuana space, where part-time or seasonal staff ― such as trimmers or budtenders ― represent a sizable portion of the workforce. The retail sector constitutes the majority of jobs in the cannabis industry, driven by requirements in nearly all states to sell marijuana ― both adult use and medical ― in distinct physical locations. Unlike alcohol, marijuana cannot be sold alongside other goods in traditional retail outlets such as a grocery or drugstore. If marijuana were allowed to be sold in traditional retail outlets, the number of retail jobs supported by the cannabis industry would likely be a fraction of what it is now. For example, if a drugstore generated an additional $300,000 per year in cannabis sales, it may need to hire only a couple of additional employees to handle the increased sales volume as opposed to several to maintain a separate location.