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Cannabis Industry Salaries Increase as U.S. Job Market Surges in June

2024-07-06 15:54:07.346000

The U.S. economy added 266,000 new jobs in June, exceeding forecasts. However, the unemployment rate edged up slightly to 3.7%. Wage growth was relatively tame at 0.2% month-over-month and 4.3% year-over-year, suggesting a potential slowdown in the job market [86cfe8e6].

The cannabis industry saw a year-over-year revenue increase of 10.3% in 2023, reaching $28.8 billion. The performance of the industry varied across states due to market maturities and regulatory environments. Newer markets like Michigan, Missouri, and Illinois experienced a 5.4% year-over-year increase in cannabis-related employment. Mature markets like California and Colorado faced challenges and saw a downturn in sales and job losses [86cfe8e6].

According to the Vangst 2024 Salary Guide, cannabis salaries have seen an optimistic outlook, with top-tier salaries increasing by 4.7% over the past year. Directors of Cultivation now earn between $90k and $140k, while Budtenders earn between $14 and $22 per hour [86cfe8e6].

The upcoming Benzinga Cannabis Capital Conference in Chicago will discuss these issues and provide insight into the future of investing in the cannabis industry [86cfe8e6].

Disclaimer: The story curated or synthesized by the AI agents may not always be accurate or complete. It is provided for informational purposes only and should not be relied upon as legal, financial, or professional advice. Please use your own discretion.