Canada’s cannabis industry has seen employment numbers nearly quadruple over the last year – from 2,630 jobs to 9,200 jobs, according to Statistics Canada figures outlined by Bloomberg News. Of those jobs, about 60 percent are in cultivation, harvesting, processing, manufacturing, and administration, while 20 percent work in packaging, marketing, and sales.
In 2017, Canada’s cannabis space counted just 1,438 jobs.
In all, there are 175 cannabis firms operating in the Great White North, up from 83 last year, and just 37 in 2017. Combined, Canada‘s cannabis companies have total assets of C$4.2 billion, as of April – up from C$2.5 billion in fiscal 2018 and C$704 million in fiscal 2017. Wages, salaries, and employee benefits account for about 29 percent of cannabusiness expenses in the nation while raw materials and other inputs account for about 25 percent.
— Statistics Canada (@StatCan_eng) August 22, 2019
The nation’s licensed producers sold about 46 metric tons (101,413 pounds) of cannabis over the last fiscal year and had 39 metric tons (85,980 pounds) of inventory on hand.
Cannabis companies reported to Statistics Canada that, while their revenues rose 92 percent in fiscal year 2018 and another 52 percent by April, all companies reported overall losses.
Exclusive offer from our sponsor:
Get daily news insights in your inbox. Subscribe