Cannabis Job Market Will Rebound In 2024: Nearly 90% Of Weed Businesses Plan On Hiring New Workforce

Cannabis industry jobs platform Vangst made public on Tuesday its annual Cannabis Salary Guide based on a survey of more than 1,000 employers and cannabis workers.

Vangst founder and CEO Karson Humiston said 2024 will be a turning point in the cannabis jobs landscape.

“We expect 2024 to mark a return to hiring and investment in our industry’s greatest asset: our people,” Humiston said. “Talent and expertise are more valued than ever before.”

The latest findings come after years of a workforce-trimming trend as cannabis layoffs marked a tumultuous 2023. Many companies opted for cost-reduction measures to stay afloat.

However, Vangst highlighted in the Tuesday press release that "86% of surveyed cannabis companies are planning to expand hiring in core areas."

See also: Vangst Secures Government Contract To Empower Cannabis Entrepreneurs

Cannabis salaries have also been steadily increasing compared to wages in other industries despite the many challenges of 2023, the report revealed.

"High-value employees experienced significant pay increases, with top-end salaries rising by 4.7%, outpacing the 4.1% average increase in non-cannabis industries," Vangst's salary guide showed.

"Nearly 90% of surveyed companies plan to hire in 2024, with two-thirds of retail companies preparing to hire five or more employees in the coming months," the Denver-based company said on Tuesday. "Over 1,500 positions are posted on Vangst every month, showcasing abundant opportunities."

According to the survey, relevant cannabis industry experience is crucial, as 63% of employers consider it their primary requirement. Interestingly, job seekers value “enhanced career growth prospects” over additional benefits in their next role within the cannabis space.

Now read: Need A Change Of Pace? How About A Job In The Cannabis Industry? New Report Has The Lowdown

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