Your latest cannabis business info from Europe

Your latest cannabis business info from Europe

2023-05-08

Can we expect more jobs in the cannabis industry in Europe?

The cannabis industry is developing in Europe, so should the labour market with occurring new jobs. Thus, legalisation can impact not only legal issues, taxation and police workers, but also the whole job market. Whilst new companies were entering US market, more accountants, HR or IT people were necessary. Let’s discuss jobs market on the example of Colorado, which legalised cannabis in 2012 and see what can happen in Europe.

Colorado experience

Researchers used multiple sources of data to gather information about legalisation’s effect on overall employment and jobs in the cannabis industry. In Colorado, the percentage of jobs related to marijuana in 2015 was 0.71%. This share has, however, been continuously rising. The employment in Colorado’s marijuana sector in 2021 made up 1.4% of all employment there. It shows that the state’s cannabis business is growing in importance as a source of employment. The number of retail and cultivation companies with cannabis licences has increased every year since legalisation. The only exception was in 2019.

Following Colorado’s legalisation of both medical and recreational marijuana, a recent study revealed that the cannabis business had a favourable impact on the state’s labour market. After legalisation, the study’s analysis of the labour markets in Colorado revealed a 0.684 percentage point drop in the unemployment rate and a 4.4% rise in total employment. The service sector experienced a 3.8% increase in personnel, while the manufacturing sector witnessed a 12.9% increase.

We may say that Colorado’s decision to legalise marijuana has led to the development of new jobs. It refers to the industry’s direct and peripheral segments. Since its legalisation, the number of marijuana licences has constantly developed, and the sector has grown to be a significant employer in the state. The labour market has been positively impacted, as shown by the decline in unemployment and rise in overall employment, particularly in the manufacturing sector.

Future of cannabis jobs in Europe

Accordingly, there is a theory that legalising cannabis would generate new jobs in Europe in brand-new firms. Thus it should also mitigate the black market. The estimated number of jobs in the cannabis sector gives an indication of the employment impact even though it is just an estimate. The anticipated number of jobs in Colorado’s cannabis business includes both direct and supplemental positions, and the immediate impact of legalisation was measurable in the tens of thousands of jobs.

There is already a specific website, EUCannaJobs, where people may browse for cannabis jobs in Europe. There are 63 jobs published in Europe today across all job categories. The majority are now from marketing and sales and from Germany. But if we take Colorado State as an example, we may anticipate more happening in the coming years. We can already see such benefits from medical cannabis market. And as cannabis market develops in Europe, more production facilities will look for new hires, such as these from Greece and Denmark.

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