ForexMinute.com – A week ago, the US economy added around 175,000 jobs, according to a survey by the Labor Department. The analysis however also presented a disappointing upsurge of 6.7% in the nation’s unemployment rate. The uneven data was mostly due to January’s teeth-chattering winter storm, which eventually led the US economy to advance with a snail-like speed.
Amidst such slow economic growth, there is an altogether unalike industry in the US, which has shown an auspicious development in previous months. The name is Marijuana, Medical Marijuana.
In the US, a total of 17 states have legalized the use of medical marijuana, turning the prison into administrative contraventions of a reasonable amount. Many others have opened clinics of medical cannabis; the licenses are being distributed, the number of consumers are increasing, and everything is happening that can boost the medical marijuana industry to the troposphere of success. Washington and Colorado are although the only two US states that have legalized recreational cannabis, allowing the creation of dispensaries that are authorized to sell cannabis to adults without medical prescription.
States in which marijuana is still considered illegal have lately been indulging their public in various polls, discussion and debates, with the intention of understanding their take on marijuana legalization. And quite surprisingly, the majority of them are in favor to legalize them for medicinal purposes.
Legalization means more users, more users mean more revenue, more revenue means more investments, more investments mean more industries, and more industries mean more jobs.
Investors are also seeking a first-move advantage in the Cannabis market to start-up new businesses, with an anticipation that they will create high volumes, at least in the next five years. Trade analysts have already predicted the industry to generate over $5 billion in the same set of time. Foreign investments are also high since the pot legalization in US states, which are setting up more plants and businesses to crop and distribute pot.
The booming marijuana industry will open jobs for innumerable harvesters, security people, qualified scientists, transporters, shippers, distributors, management experts, etc. Under a new system, license distribution of cannabis is also expected to be more flexible than before. All the signals are showing a greater future for the marijuana industry.
To contact the reporter of the story: Yashu Gola at email@example.com