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Have you read the most recent BLS report? If you’re like most people, you don’t even know what a BLS report is! BLS stands for "Bureau of Labor Statistics," and this government office puts out a quarterly report on trends in labor in the U.S.
The big news from this quarter’s report isn’t the expected stats about how businesses with 1-4 people make up over 50% of all small businesses. Nor is it the fact that the vast majority of job creation comes from small businesses.
It’s the fact that people in corporate positions are getting more and more productive. Nonfarm business productivity rose at a 4.7 percent pace in the third quarter, the fastest quarterly gain since 2003, according to the December 6 report.
Sound like a good thing for big business? Think again.
What we predict will happen is people will continue to get overworked, underpaid, and will leave the corporate workforce to become entrepreneurs. (wahooo!!!)
More people will start up their own businesses because they won’t want to be worked as hard as they are when they’re not the primary beneficiary of all that toil.
The transition toward an "Ownership Society" is becoming ever more likely.
If you are or were a "productivity" stat for a big company, tell us your experience. Are we on track with our prediction?