The recent election has continued a trend toward the legalization of marijuana for both medicinal and recreational use. Legalization and celebrity glamorization have tended to reduce social restraints relating to pot and appear to be increasing use.
In addition to any of the other controversial issues relating to the use of marijuana, investors may want to take note of the impact on employers.
Employers are reporting an increase in the number of prospective employees who fail to pass drug tests. In Colorado, a leader in the legalization of recreational pot use, positive workplace drug tests for pot have increased nearly 200% since 2012.
Along the same lines, the Federal Railroad Administration (FRA) has reported a sharp increase in positive drug tests. Currently, the FRA is seeking to extend drug testing, currently applying to operating personnel, to maintenance-of-way workers.
Skilled worker shortages have become an increasing problem for prospective employers. An increase in positive drug tests is not going to help either employers or potential employees.
Whether some activity is legal or not, personal responsibility should not be taken lightly.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA®