The legal marijuana industry has expanded to 28 states and the District of Columbia, and there is one clear winner: U.S. workers.
In Oregon alone, the positive economic impact is especially apparent.
According to the "Cannabis Employment Estimates" from Whitney Economics, the average wage of cannabis workers (who directly touch the plant) is $12.13 an hour as of Feb. 27. In Oregon, the minimum wage is $9.75, which means cannabis workers are making 24% more than the state's minimum wage.
And with an estimated 12,500 cannabis jobs created, that means the total annual wages associated with these jobs is at least $315 million.
However, these numbers could be too conservative...
The Legal Marijuana Industry Is a Massive Job Creator
In the "Cannabis Employment Estimates" report, Whitney Economics notes the estimates omit jobs related to the marijuana industry, like security and insurance, to name a few.
That means a number of high-paying jobs were not included in that previous $315 million figure...
And a closer look at the Oregon Cannabis Association's member list shows you how many jobs have actually been created by the marijuana industry.
One member is CannaGuard, a security company based in Portland that designs and installs custom security systems for the marijuana industry. It helps ensure all federal, state, and local laws and regulations are followed in dispensary, grow, and retail facilities.
The company also helps marijuana business owners watch employees handle cash and products in real time.
But because the employees of CannaGuard don't work directly with the plant, they are not included in previous marijuana industry career reports.
Another member in the association, Oregon Cannabis Insurance, provides insurance for business owners that helps cover their unique needs, including:
- Inventory insurance for coverage of products in case of fire or theft
- Product liability insurance for protection from lawsuits
- Property insurance to restore inventory, furniture, fixtures, and equipment if needed
And as more states legalize marijuana, job opportunities and revenue growth for marijuana industry employees and businesses will keep climbing.
However, some savvy investors are already plotting their course to a seven-figure weed windfall with the top pot stocks from every ecosystem - growers, edibles, dispensaries, and more.
That's why Money Morning Director of Technology & Venture Capital Research Michael A. Robinson has created the "bible of weed investing" for Money Morning readers. Here's more on how retail investors are cashing in on the $6.7 billion North American industry...
How to Play the $6.7 Billion Marijuana Industry
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Investors are already plotting their seven-figure weed windfall with the top pot stocks from every ecosystem - growers, edibles, dispensaries, and more.
As a service to Money Morning readers, we're now making available our 90-page cannabis investing guide, The Roadmap to Marijuana Millions. This "bible of weed investing" features the absolute top 30 pot stocks in edibles, dispensaries, biotech, and more - all of which could make you a fortune.
Michael is one of our most prominent and respected investing "gurus" here at Money Map Press - and for good reason. He is one of the top financial analysts working today. Make no mistake: Michael's ideas are completely his own. He's a true original. He works solely for Money Map Press... and receives absolutely no compensation from companies he writes about.
His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style.
Michael's 30-year track record as a leading tech analyst has garnered him rave reviews, too.
As editor of the financial newsletter American Wealth Underground, Michael amassed an amazing track record using rigorous investing. The first analyst to uncover the rare earth mineral crisis, he amassed cumulative gains of 990% for his readers in just 16 months.
His research is world class, too. The Oakland Tribune, Detroit News, The San Francisco Examiner, The Kansas City Times, Wealth Magazine, and American Banker all publish his reporting. He has appeared on Larry King's syndicated radio show.
Robinson has an honors economics degree from the University of Missouri at Columbia with a minor in journalism.
And as a service to Money Morning readers, we're now making available a 90-page cannabis investing guide called The Roadmap to Marijuana Millions.
This "bible of weed investing" reveals the world's top marijuana stocks every serious investor should consider right now.
Normally valued at $499, it can be yours absolutely free. To learn how to get your free copy, click here.
This offer is only available to the first 500 people who respond today. So please go here now to reserve your copy.