6) These long-term trends are already quite troubling.
7) Similarly, the employment to population ratio is a disaster and will also weigh on both wage inflation and trend potential growth.
This is a structural issue and not totally related to demographics either.
8) Permanent job losses are still increasing, but slower which is good.
9) The growth rate in weekly hours for the manufacturing sector dipped slightly. Still a positive trend.
10) Coupled with a rising growth rate in the ISM new orders to inventory spread, manufacturing likely has legs through the new year and possibly through Q1.
11) Like @GreekFire23 wrote, after a major recession we get a snapback (Zarnowitz Rule) but growth quickly reverts to trend after the rebound.