The Us Bureau of Labor reported a 1.0% labor productivity gain in 2017-2018. This number was better across the country than the 0.4% per year gain from 2007-2017. However, labor productivity was still only 1.3% versus the 2.8% labor productivity of the PC-Internet productivity boom from 1995-2007.
The lack of a labor productivity boom that matches the multi-factor boom indicates that it is not technology efficiency of the PC-Internet scale.
The Nextbigfuture thesis is that the worker on demand, services on demand and cloud services that people and businesses use regularly has reached the scale to move the overall productivity number. However, labor is not really that much more efficient. People are being worked hard. Uber and Lyft drivers are working on weekends and we are working assets harder with X as a service.
This level of stronger productivity number has room to run for many years. It will then merge into a larger real AI-robot-self-driving automation wave.
It is a real productivity shift because it takes a lot to reach the scale to move these big nationwide numbers.
SOURCE- Bureau of Labor Statistics, Analysis by Brian Wang of Nextbigfuture
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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