The cannabis industry is projected to add as many as 340,000 full-time jobs by 2022, an estimated annual growth rate of 21%.
Retail sales of medical and recreational marijuana in the United States are expected to come in between $8 billion and $10 billion this year and could reach $22 billion by 2022, according to Chris Walsh, industry analyst and editorial vice president of MJBizDaily.
“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.”
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.
Originally posted at Fortune