According to an article published in the Labor Market Review, the monthly publication of the New Mexico Department of Workforce Solutions, wage earners who join the legal cannabis industry in New Mexico typically earn more money than they did at their prior, non-marijuana job.
The report states that “the data shows that for some people the grass is greener” in the cannabis industry.
The New Mexico legal marijuana industry officially opened in April 2022. The Department of Workforce Solutions found that nearly 9 out of 10 of these employees worked in retail.
New Mexico sold more than $300,000,000 worth of recreational cannabis products in its first year. This was a significant milestone for Gov. Michelle Lujan Grisham (D) touted last month. The medical marijuana sales totaled $187.4 millions.
Want to see what New Mexico’s marijuana industry looks like in #NewMexico? Check out the special article in the April Labor Market Review.#NMCannabisIndustry #NMJobs #NMWorkforce #AprilLaborMarketReview #NMBusiness #NMJobMarket pic.twitter.com/DFTKJni6Jk
NMDWS May 31 2023
According to a new state report released at the end last month, the average weekly wage for cannabis workers was $560 by the end 2022 – lower than most other industries. Analysts found that cannabis workers who had been in the industry since the start of 2021 typically received a raise.
The report states that “one reason members of this cohort might have left their former place of employment in order to work in cannabis industry was to earn higher wages.” The report states that “analyzing the wage records of this cohort shows that their weekly average wage increased when they joined cannabis industry.”
New Mexico Department of Workforce Solutions
The wage records of roughly one-third of cannabis workers showed that they came from other industries. The report states that “Trade and transportation had the largest share (11,1%), followed by education and health services (4,4%), leisure and hospitality (8,4%), and professional and business service (4.2%).”
The report states that another quarter of workers did not have wage data. This could be because they had just graduated, moved to another state or were self-employed. Nearly 4 out of 10 wage records come from cannabis companies, which means that they are already employed in the industry.
New Mexico Department of Workforce Solutions
In the fourth quarter 2022, there were 151 cannabis companies operating across New Mexico. The majority (74,2 percent) of the cannabis firms were either online or retail platforms. Twenty-one other firms grew and cultivated plant, ten were processors, and four were wholesalers. Four performed activities that were not listed in the report.
The report revealed that most businesses are located near population centers. The report found that nearly 1 in 3 businesses were located in Bernalillo County. This is the most populous county in New Mexico and is where Albuquerque can be found.
New Mexico Department of Workforce Solutions
In recent months, officials in neighboring Arizona have also talked up marijuana sales, including the total year-end purchase of adult-use cannabis in 2022.
After launching in 2018, the state’s recreation market in Massachusetts officially exceeded $4 billion in sales by January 2019.
A top Wisconsin Senator recently released a legislative report that revealed just how much money Wisconsin lost to Illinois in the past year. Wisconsin residents, who do not have a regulated marijuana market, went across the border, and spent more than $121,000,000 on marijuana.
The state of New Mexico is looking forward to “even more growth in the second year,” according to Superintendent Linda Trujillo.
Lujan Grisham also signed a bill that automatically expunges past cannabis crimes. However, she chose to veto another measure which would have prevented people from being incarcerated for certain drug offences.
Recently, state lawmakers advanced a bill that would create a state agency to study whether a program psilocybin treatment could be launched for certain patients who have mental health issues and may benefit from the psychedelic. The state’s medical cannabis program last month added insomnia to the list of qualifying conditions.
Rhode Island House passes bill to legalize psilocybin and prepare for regulated therapeutic access
Photo by Mike Latimer.
The article New Mexico Workers who Join the Marijuana Industry Earn more than their previous non-cannabis jobs, State Says first appeared on Marijuana Moment.
