According to an article on Forbes, a lot has changed in the employee regulation realm over the years:
There is 8.5 times more regulation per employee today than there was in 1950.
The article also states that while the economy has grown 700% since then, federal regulation has grown 1,700%.
PEO Compass mentions that although this is great for PEO companies, which are able to aid businesses with the increasing regulations, it is not good for our overall economy.