The cannabis industry is more essential than meets the eye…
Cannabis companies want you.
Cannabis companies want you to work for them right now.
Cannabis was recently deemed essential and demand is on the rise as stay-at-home orders are enacted across the country. This means cannabis companies want (and need) you to help fill this demand.
A lot of new jobs are now available, and in the context of today’s economic troubles, this is a very big deal.
It also indicates something very important about the essential nature of the cannabis industry.
Recession-Proof Sin Stocks
Ethical perceptions have changed a lot since the “sin stock” moniker was created. By today’s standards, these stocks are just regular stocks. That said, if you’re unfamiliar with the idea, sin stocks are publicly traded companies that some say operate in less ethical areas. This includes the alcohol, tobacco, and gaming industries.
What makes them so interesting is that they’re typically recession-proof.
This trend is based on real data that’s been compiled over decades. Simply put, when a recession hits, sin industries weather the storm better than the greater market.
Source: Marijuana Business Daily
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After all, most folks still like a good drink when times are tough. And as it turns out, folks want to enjoy their favorite cannabis products, too.
As we trek through this COVID-19 crisis, more and more data has shown that the cannabis industry falls into this recession-proof category.
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Last week, many states deemed cannabis essential and we saw a huge surge in demand as customers flocked to place orders.
This spike could taper some as the crisis continues, but other points in the supply chain are still reporting strong demand. Cannabis testing labs, for example, report they’re still servicing clients at a normal rate.
And the demand for cannabis products overall has remained strong – giving local communities surprising hope.
More Essential Than Meets the Eye
The apparent durability of the cannabis industry in the wake of the current crisis is helping folks in a very real and immediate way.
Many cannabis companies, both large and small, are looking to fill positions to meet demand. Here in Baltimore, where the National Institute for Cannabis Investors calls home, there are over 100 listings for cannabis careers. Many other cities offer the same opportunities.
But in addition to filling the demand for cannabis, some companies are taking extra steps in proving themselves essential.
Multiple reports are coming across our newswire about companies repurposing workspace to make much-needed hand sanitizer for their local communities.
One cannabis producer, CannaCraft, is leading the charge in California. In Massachusetts, the Commonwealth Dispensary Association, which represents 36 marijuana companies in the Bay State, has directed its members to supply area hospitals with sanitizer.
In Canada, OrganiGram Holdings Inc. (Nasdaq: OGI) announced that it is donating 500 liters of ethanol from its New Brunswick facility to help replenish the sanitizer supply in the community.
And the list goes on.
The bottom line is this. The cannabis industry, surprisingly, has a lot going for it right now – even during these difficult times.
Whether you’re looking for ways to protect your wealth with a potential recession looming, or just need a little good news, the cannabis industry is providing folks with exactly that.
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One response to “Increased Cannabis Demand Fuels an Uptick in Hiring”
April 02 2020