Three Years After Legalizing Pot, Colorado Has The Lowest Unemployment Rate In America

by Tommy Gimler

They’re running out of excuses not to legalize it, gang.

According to ValuBit News, Colorado’s unemployment has plummeted dramatically faster than the rest of America since recreational marijuana was legalized three years ago, falling to just 2.3 percent earlier this year while the rest of the nation sits at 4.3 percent (the lowest it has been since 2001).

And while Governor John Hickenlooper has cited things such as the state’s business-friendly tax rates and growth in the clean energy department, there is no denying that legal pot has had an enormous effect on the state’s unemployment rate being the lowest mark in the country.

For starters, the Colorado cannabis industry was responsible for 18,000 new jobs in 2015 alone, and as the chart below shows, the timing of those new jobs correlates directly with a dramatic drop in unemployment in The Centennial State.


Industry experts expect the same thing to happen in other states such as California once the legalization process has totally taken effect, and by 2020, it’s expected that the legal cannabis industry will be responsible for as many as 283,000 new jobs in America.

Throw that in with the fact that states like Colorado haven’t seen a “big spike” in teenage consumption like many opponents were so certain would accompany legal marijuana use, and it seems as though those opposed to legalizing it are really going to have their hands full trying to come up with reasons to keep it away from their state’s constituents.

Photo credits: The Boston Globe, ValuBit News

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