Awhile back, I posted a graph showing the relationship between unemployment and capacity utilization. Here's an updated version:
Though one month does not constitute a trend, today's data on capacity utilization are not very encouraging:
Industrial production decreased 0.2 percent in September after having increased 0.2 percent in August. ... The capacity utilization rate for total industry edged down to 74.7 percent, a rate 4.2 percentage points above the rate from a year earlier but 5.9 percentage points below its average from 1972 to 2009.