Unemployment Is At A 40-Year Low In Canada Thanks To Marijuana Legalization
It's a real budding field of employment.
Statistics Canada has reported that Canada's unemployment is now the lowest it has been since the 1970's. More than 94,000 new jobs opened up in November alone, in both the private and public sector.
TL;DR Statistics Canada has reported unemployment at a 40-year low and the legalization of marijuana is playing a huge part.
We were curious where all these jobs came until we read the report ourselves and it became clear: the legalization of marijuana in October is to thank for a large portion of these jobs.
Legalization created nearly 3,000 jobs in cannabis-related fields across the country (a 266% increase from the year before). The Labour Force Study counts private and public sector jobs, so this number includes all types of different positions related to marijuana.
Because different provinces have opted for different systems within legalization, some of these jobs fall under public sector (positions within the Société québécoise du cannabis, for example) and some of them are considered private (approved sellers in Alberta, for example).
However, Statistics Canada notes that this study only includes companies who responded to the Labour Force Survey that were already on Health Canada's "list of approximately 120 licesnsed producers."
This means that there are likely still a lot of jobs related to marijuana that contribued to this new 40-year low that are not being counted as such, in the sense that they are not being appropriately attributed to the cannabis sector.
Seasonal jobs, such as the growth and production of marijuana, for example, would have been counted within the study as contributing to the increase in Canadian jobs, but were not necessarily counted as being "cannabis-related."
Nevertheless, the explosion of the cannabis industry is pretty impressive. The graph above from Statistics Canada shows just how rapidly this sector is growing.
Other cannabis-related jobs fell under other classifications in the survey. All this to say that despite the already impressive growth of the industry, the government is still probably underestimating its true size.
You can check out more details of the survey here at Stats Canada.
This is perhaps the first promising news since legalization on October 17th.